Post Utme Summit University 2021 Accounting Question 11

Practice objective / multiple choice question 11 from the 2021 Post Utme Summit University Accounting examination.

Post Utme Summit University 2021 Accounting Objective / Multiple Choice
Question 11 POST_UTME_SUMMIT_UNIVERSITY • 2021 • ACCOUNTING • objective

A partnership is formed between two individuals, John and Mary, with a capital of ₦500,000 each. After one year, the profit is shared in the ratio 2:3. If John's share of the profit is ₦120,000, what is Mary's share of the profit?

Answer Options

A. ₦180,000
Correct Answer B. ₦150,000
C. ₦200,000
D. ₦220,000
Correct Answer
B
Correct Option:
₦150,000

About This Question

This is Post Utme Summit University 2021 Accounting Question 11. It is one of the objective questions from the 2021 Post Utme Summit University Accounting examination.

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