Post Utme Covenant University 2020 Accounting Question 7

Practice objective / multiple choice question 7 from the 2020 Post Utme Covenant University Accounting examination.

Post Utme Covenant University 2020 Accounting Objective / Multiple Choice
Question 7 POST_UTME_COVENANT_UNIVERSITY • 2020 • ACCOUNTING • objective

A partnership has two partners, A and B. The capital accounts of A and B are ₦100,000 and ₦80,000 respectively. The profit-sharing ratio is 3:2. What is the total profit for the year?

Answer Options

A. ₦180,000
B. ₦200,000
Correct Answer C. ₦220,000
D. ₦240,000
Correct Answer
C
Correct Option:
₦220,000

About This Question

This is Post Utme Covenant University 2020 Accounting Question 7. It is one of the objective questions from the 2020 Post Utme Covenant University Accounting examination.

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