NECO Accounting 2007 Objective — Question 20
Question 20 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 is an appropriation account item in a partnership business?
- A. Accrued insurance
- B. Carriage outwards
- C. Cost of sales
Explanation
Interest on capital is an appropriation item showing how profits are distributed among partners.
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