NECO Accounting 2007 Objective — Question 15
Question 15 of 60 from the National Examinations Council (NECO) Accounting 2007 Objective paper, with the correct answer and a full explanation.
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Which of the following items is debited to the partners' current account?
- A. Interest on capital
- B. Interest on drawings
- C. Interest on partner's loan
Explanation
The partner's salary is debited to the partners' current account, as it represents an appropriation of profit to the partner.
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