JAMB Accounting 2023 Objective — Question 23

Question 23 of 40 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2023 Objective paper, with the correct answer and a full explanation.

When there is no agreement between partners, partners loan is charged at A.

A. 0%
B. 2%
C. 5%Correct
D. 10%

Explanation

In the absence of a partnership deed, the loan produced by any partner will be charged at 5% interest.

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