Post Utme Pan Atlantic University 2020 Accounting Question 1

Practice objective / multiple choice question 1 from the 2020 Post Utme Pan Atlantic University Accounting examination.

Post Utme Pan Atlantic University 2020 Accounting Objective / Multiple Choice
Question 1 POST_UTME_PAN-ATLANTIC_UNIVERSITY • 2020 • ACCOUNTING • objective

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

Answer Options

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

About This Question

This is Post Utme Pan Atlantic University 2020 Accounting Question 1. It is one of the objective questions from the 2020 Post Utme Pan Atlantic University Accounting examination.

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