N6.00
N7.25
N9.00
N9.75
Correct answer is D
No explanation has been provided for this answer.
An item of appropriation in partnership profit and loss account is
Interest on partners' capital
Interest on partners' loan
Employees' salaries
Partners' drawings
Correct answer is A
No explanation has been provided for this answer.
When a purchase business is revalued, the effect is that
A decrease in the value of asset has no effect on value of goodwill
An increase in the value of asset is treated as an increase in the value of goodwill
A decrease in the value of asset is treated as an decrease in the value of goodwill
An increase in the value of asset is treated as an decrease in the value of goodwill
Correct answer is D
No explanation has been provided for this answer.
The accumulation fund of a non-trading concern can equally be referred to as
Members' equity
Share capital
General fund
Surplus fund
Correct answer is A
No explanation has been provided for this answer.
The Partnership Deed normally specifies
How profit or losses are to be shared
The capital to be contributed annually
How salaries are paid to employees
The profit that should be earned annually
Correct answer is A
No explanation has been provided for this answer.