Post Utme Mountain Top University 2025 Accounting Question 1

Practice objective / multiple choice question 1 from the 2025 Post Utme Mountain Top University Accounting examination.

Post Utme Mountain Top University 2025 Accounting Objective / Multiple Choice
Question 1 POST_UTME_MOUNTAIN_TOP_UNIVERSITY • 2025 • ACCOUNTING • objective

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

Answer Options

A. Capital is calculated based on the partner's last known balance.
Correct Answer B. Capital is calculated based on the partner's average balance over the past three years.
C. Capital is calculated based on the partner's current balance.
D. Capital is calculated based on the partner's initial investment.
Correct Answer
B
Correct Option:
Capital is calculated based on the partner's average balance over the past three years.

About This Question

This is Post Utme Mountain Top University 2025 Accounting Question 1. It is one of the objective questions from the 2025 Post Utme Mountain Top University Accounting examination.

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