JAMB Accounting 2007 Objective — Question 22

Question 22 of 46 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2007 Objective paper, with the correct answer and a full explanation.

Partners' share of profit is credited to

A. a partner's current accountCorrect
B. a partner's capital account
C. the profit and loss account
D. the profit and loss appropriation account

Explanation

A partner's share of profit (an item of income to the partner) is credited to the partner's current account.

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