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ACCOUNT

JAMB 2023 - Question 12

Account 2023 JAMB Past Questions - Question 12: Changes in the profit sharing ratio may occur as a result ofI. skill contributed by partnersII. health statusIII. old ageIV. Intangible asset increase

Changes in the profit sharing ratio may occur as a result of

I. skill contributed by partners
II. health status
III. old age
IV. Intangible asset increase

A: I, III and IV

B: I and III

C: I, II and III

D: I, II and IV

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Correct Answer

Explanation

Change in profit sharing ratio may occur as a result of the following:
- changes in skill contributed by partners
- ill health
- old age