O-LevelAccountingAccounting procedures7707/11 · Oct/Nov 2012 · Q231 Mark

Interest on capital and interest on drawings compensate which partner?

Aone with higher capital and higher drawings.

Bone with higher capital and lower drawings.

Cone with lower capital and higher drawings.

Done with lower capital and lower drawings.

✓ Correct answer

B: one with higher capital and lower drawings.

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Topic: Accounting procedures, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, Oct/Nov 2012 Paper 1 Variant 1, question 23.

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