Profit or loss in a partnership is usually arrived at after deducting from gross profit...
FINANCIAL
JAMB 2018
Profit or loss in a partnership is usually arrived at after deducting from gross profit all expenses including____________
- A. Partners salaries
- B. Interest on capital
- C. Interest on loans
- D. Partners drawings
Correct Answer: C. Interest on loans
Explanation
is charged in the profit and loss account as finance expenses
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