In the absence of a partnership agreement, additional cap...
In the absence of a partnership agreement, additional capital contributions by partners attract interest of
5%
10%
12%
15%
Correct answer is A
In the Absent of an agreement, the partners will share profits and losses equally. If an agreement exists, partners divide profits based on the terms specified. Any reason can be used as the basis for establishing a profit-sharing ratio, but the two main factors are responsibility and capital contributions. Additional capital contributed attracts a 5% interest in the absence of a partnership agreement
Which of the following items is found on he credit side of a sales Ledger Control Account? ...
\(\begin{array}{c|c} & ₦ \\ \hline \text{Opening stock of raw materials} & 24,750\\ \text{...
Which of the following accounts or statements is used to determine credit purchase figures in i...
The difference between factory cost of goods produced and its market value is ...