Post Utme Uniport 2019 Accounting Question 7

Practice objective / multiple choice question 7 from the 2019 Post Utme Uniport Accounting examination.

Post Utme Uniport 2019 Accounting Objective / Multiple Choice

Question 7 POST_UTME_UNIPORT • 2019 • ACCOUNTING • objective

A partnership has two partners, A and B. The partnership's trial balance as of December 31, 2022, shows the following balances: A's capital, ₦100,000; B's capital, ₦150,000; and the profit for the year, ₦20,000. What is the correct distribution of the profit among the partners?

Answer Options

A. A: ₦10,000; B: ₦10,000.

Correct Answer B. A: ₦12,000; B: ₦8,000.

C. A: ₦15,000; B: ₦5,000.

D. A: ₦20,000; B: ₦0.

Correct Answer

Correct Option:

A: ₦12,000; B: ₦8,000.

About This Question

This is Post Utme Uniport 2019 Accounting Question 7. It is one of the objective questions from the 2019 Post Utme Uniport Accounting examination.

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