Post Utme Joseph Ayo Babalola University 2020 Accounting Question 6

Practice objective / multiple choice question 6 from the 2020 Post Utme Joseph Ayo Babalola University Accounting examination.

Post Utme Joseph Ayo Babalola University 2020 Accounting Objective / Multiple Choice
Question 6 POST_UTME_JOSEPH_AYO_BABALOLA_UNIVERSITY • 2020 • 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 at the beginning of the year.
B. Capital is calculated at the end of the year.
C. Capital is calculated at the average of the beginning and end of the year.
Correct Answer D. Capital is calculated at the beginning of the year and adjusted for the absence.
Correct Answer
D
Correct Option:
Capital is calculated at the beginning of the year and adjusted for the absence.

About This Question

This is Post Utme Joseph Ayo Babalola University 2020 Accounting Question 6. It is one of the objective questions from the 2020 Post Utme Joseph Ayo Babalola University Accounting examination.

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