x

Subject - Accounting:

Financial Accounting

MCQ - 142-144

Question:

Mr. A & B entered into a partnership with an equal share in profit or loss. The agreement provides that Mr. A will receive $10,000 and Mr. B will receive $8,000 as salary allowance. The net income for the year is $85,000. What will be the total share of Mr. A?

  1. $52,500
  2. $42,500
  3. $43,500
  4. $42,500

Correct Answer: C

Explanation:

Not required

Record Performance

355 MCQ for effective preparation of the test of Financial Accounting of Accounting section.

Read the MCQ statement: Mr. A & B entered into a partnership with an equal share in profit or loss. The agreement provides that Mr. A will receive $10,000 and Mr. B will rece .... share of Mr. A? , keenly and apply the method you have learn through the video lessons for Financial Accounting to give the answer. Record your answer and check its correct answer and video explanation for MCQ No. 142-144.

How to Answer

Solve the question for MCQ No. and decide which option (A through D/E) is the best choice to answer the MCQ, then click/tap the blue button to view the correct answer and it explanation.

Share This Page