Post Utme Caleb University 2024 Accounting Question 6

Practice objective / multiple choice question 6 from the 2024 Post Utme Caleb University Accounting examination.

Post Utme Caleb University 2024 Accounting Objective / Multiple Choice
Question 6 POST_UTME_CALEB_UNIVERSITY • 2024 • ACCOUNTING • objective

In a partnership account, if the capital of one partner is overdrawn by ₦5,000, what will be the effect on the partner's capital account?

Answer Options

A. ₦5,000 will be credited to the partner's capital account.
Correct Answer B. ₦5,000 will be debited to the partner's capital account.
C. ₦5,000 will be transferred to the partner's loan account.
D. ₦5,000 will be transferred to the partner's drawing account.
Correct Answer
B
Correct Option:
₦5,000 will be debited to the partner's capital account.

About This Question

This is Post Utme Caleb University 2024 Accounting Question 6. It is one of the objective questions from the 2024 Post Utme Caleb University Accounting examination.

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