Post Utme Unn 2022 Accounting Question 1

Practice objective / multiple choice question 1 from the 2022 Post Utme Unn Accounting examination.

Post Utme Unn 2022 Accounting Objective / Multiple Choice

Question 1 POST_UTME_UNN • 2022 • ACCOUNTING • objective

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

A. Capital is calculated based on the partner's share of profits.

B. Capital is calculated based on the partner's share of losses.

Correct Answer C. Capital is calculated based on the partner's average capital over the year.

D. Capital is calculated based on the partner's capital at the beginning of the year.

Correct Answer

Correct Option:

Capital is calculated based on the partner's average capital over the year.

This is Post Utme Unn 2022 Accounting Question 1. It is one of the objective questions from the 2022 Post Utme Unn Accounting examination.

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