Post Utme Wellspring University 2022 Accounting Question 6

Practice objective / multiple choice question 6 from the 2022 Post Utme Wellspring University Accounting examination.

Post Utme Wellspring University 2022 Accounting Objective / Multiple Choice
Question 6 POST_UTME_WELLSPRING_UNIVERSITY • 2022 • ACCOUNTING • objective

In a partnership account, if the capital of one partner is increased by ₦50,000 and the capital of another partner is decreased by ₦20,000, what is the net effect on the total capital of the partnership?

Answer Options

Correct Answer A. ₦30,000 increase
B. ₦30,000 decrease
C. ₦10,000 increase
D. ₦10,000 decrease
Correct Answer
A
Correct Option:
₦30,000 increase

About This Question

This is Post Utme Wellspring University 2022 Accounting Question 6. It is one of the objective questions from the 2022 Post Utme Wellspring University Accounting examination.

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support