Bece Model Questions Vol1 2018 Business Studies Question 1

Practice practical question 1 from the 2018 Bece Model Questions Vol1 Business Studies examination. This question covers Business organization, Partnership, Profit sharing .

Bece Model Questions Vol1 2018 Business Studies Practical

Topics: Business organization Partnership Profit sharing

Question 1 BECE_MODEL_QUESTIONS_VOL1 • 2018 • BUSINESS_STUDIES • practical

Three friends – Aisha, Bayo and Chinedu – decide to start a business together. Each contributes capital as shown below and they intend to share profit in proportion to their capital contributions. The business will be run by the partners themselves and they are prepared to assume unlimited personal liability for the debts of the business.

Question Parts

( a )

State the type of business organization that best fits the description and give one reason for your choice.

( b )

Prepare a simple partnership agreement table showing for each partner: (i) capital contributed, (ii) profit‑sharing ratio (as a percentage), and (iii) liability status.

( c )

If the partnership earned a total profit of ₦240,000 for the year, calculate the amount of profit each partner will receive.

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About This Question

This is Bece Model Questions Vol1 2018 Business Studies Question 1. It is one of the practical questions from the 2018 Bece Model Questions Vol1 Business Studies examination.

The question covers Business organization, Partnership, Profit sharing .

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