JAMB Accounting 2020 Objective — Question 39

Question 39 of 40 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2020 Objective paper, with the correct answer and a full explanation.

39. Partners' salary is effected in

A. A. Profit and loss account
B. B. Trading account
C. C. Profit and loss appropriation accountCorrect
D. D. Partners' bank account

Explanation

Partners' salaries will be effected in the profit and loss appropriation account as well as the current account/capital account of each partner or as the case may be.

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