Post Utme Uniosun 2017 Accounting Question 16

Practice objective / multiple choice question 16 from the 2017 Post Utme Uniosun Accounting examination.

Post Utme Uniosun 2017 Accounting Objective / Multiple Choice
Question 16 POST_UTME_UNIOSUN • 2017 • ACCOUNTING • objective

In a partnership account, what is the correct method of calculating the capital of a partner who has been absent for a period of 6 months?

Answer Options

Correct Answer A. Capital is calculated as the average of the opening and closing balances.
B. Capital is calculated as the opening balance minus the drawings made during the period.
C. Capital is calculated as the closing balance plus the drawings made during the period.
D. Capital is calculated as the average of the opening and closing balances minus the drawings made during the period.
Correct Answer
A
Correct Option:
Capital is calculated as the average of the opening and closing balances.

About This Question

This is Post Utme Uniosun 2017 Accounting Question 16. It is one of the objective questions from the 2017 Post Utme Uniosun Accounting examination.

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