O-LevelAccountingPreparation of financial statements7707/11 · Oct/Nov 2019 · Q211 Mark

Sara and Fatima are in partnership. Sara is entitled to a partnership salary of $30000 per annum and the balance of the profit is shared equally. The profit for the year was $180000. What was Sara's total income from the business?

A$75000

B$90 000

C$105000

D$120000

✓ Correct answer

C: $105000

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Topic: Preparation of financial statements, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, Oct/Nov 2019 Paper 1 Variant 1, question 21.

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Sara and Fatima are in partnership. Sara is entitled to a partnership salary of $30000 per annum and the balance of the profit is shared equally. The profit for the year was $180000. What was Sara's total income from the business?

✓ Correct answer

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