Accounting 9706 · AS & A Level · Preparation of financial statements

Preparation of financial statements — practice question

A partnership agreement sets out the following clauses. 1. interest on capital 2. interest on drawings 3. interest on partners’ loans Which of these clauses will lead to entries being made in the partnership’s appropriation account?

  • A1, 2 and 3
  • B1 and 2 only
  • C1 and 3 only
  • D2 and 3 only

Worked solution & mark scheme

This 1-mark question has a full step-by-step worked solution and mark scheme.

  • Full mark scheme, point by point
  • Step-by-step worked solution
  • Write your answer & get it marked instantly by AI