O-LevelAccountingPreparation of financial statements7707/11 · May/June 2024 · Q221 Mark

What is shown in a partnership appropriation account?

Athe capital contributed by each partner

Bthe distribution of profit/loss among the partners

Cthe partners' current account balances

Dthe interest on a partner's loan account

✓ Correct answer

B: the distribution of profit/loss among the partners

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Topic: Preparation of financial statements, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, May/June 2024 Paper 1 Variant 1, question 22.

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