Post Utme Summit University 2018 Accounting Question 1

Practice objective / multiple choice question 1 from the 2018 Post Utme Summit University Accounting examination.

Post Utme Summit University 2018 Accounting Objective / Multiple Choice
Question 1 POST_UTME_SUMMIT_UNIVERSITY • 2018 • ACCOUNTING • objective

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

Answer Options

Correct Answer A. Capital is calculated based on the average profit of the past three years.
B. Capital is calculated based on the average profit of the past two years.
C. Capital is calculated based on the average profit of the past five years.
D. Capital is calculated based on the current year's profit.
Correct Answer
A
Correct Option:
Capital is calculated based on the average profit of the past three years.

About This Question

This is Post Utme Summit University 2018 Accounting Question 1. It is one of the objective questions from the 2018 Post Utme Summit University Accounting examination.

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