Post Utme Rhema University 2023 Accounting Question 32

Practice objective / multiple choice question 32 from the 2023 Post Utme Rhema University Accounting examination.

Post Utme Rhema University 2023 Accounting Objective / Multiple Choice
Question 32 POST_UTME_RHEMA_UNIVERSITY • 2023 • ACCOUNTING • objective

A partnership is formed between two individuals, John and Mary, who contribute ₦100,000 and ₦80,000 respectively. The partnership agreement states that the profits and losses will be shared in the ratio 3:2. Calculate the share of profit for John for the year.

Answer Options

Correct Answer A. ₦60,000
B. ₦80,000
C. ₦100,000
D. ₦120,000
Correct Answer
A
Correct Option:
₦60,000

About This Question

This is Post Utme Rhema University 2023 Accounting Question 32. It is one of the objective questions from the 2023 Post Utme Rhema University Accounting examination.

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support