JAMB Accounting 2021 Objective — Question 31

Question 31 of 40 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2021 Objective paper, with the correct answer and a full explanation.

31. Best share of profit is a. 28,750 b. 57,500 c. 60,000 d. 62,500

A. 28,750
B. 57,500Correct
C. 60,000
D. 62,500

Explanation

B's share (2/4 of the ratio) of the residual profit = 2/4 x (120,000 - 5,000) = 2/4 x 115,000 = 57,500, the best (largest) share among the partners.

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