Post Utme Eksu 2023 Accounting Question 11

Practice objective / multiple choice question 11 from the 2023 Post Utme Eksu Accounting examination.

Post Utme Eksu 2023 Accounting Objective / Multiple Choice
Question 11 POST_UTME_EKSU • 2023 • ACCOUNTING • objective

In a partnership account, what is the correct method of calculating the capital of a partner who has been absent for a year?

Answer Options

A. Capital is calculated as the average of the partner's capital for the previous and next year.
Correct Answer B. Capital is calculated as the average of the partner's capital for the previous year and the current year.
C. Capital is calculated as the average of the partner's capital for the current year and the next year.
D. Capital is calculated as the average of the partner's capital for the previous year and the average of the partner's capital for the next two years.
Correct Answer
B
Correct Option:
Capital is calculated as the average of the partner's capital for the previous year and the current year.

About This Question

This is Post Utme Eksu 2023 Accounting Question 11. It is one of the objective questions from the 2023 Post Utme Eksu Accounting examination.

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