JAMB - Accounts Principles Of Accounts (2023 - No. 15)

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

I, III and IV

I and III

I, II and III

I, II and IV

Explanation

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

JAMB - Accounts Principles Of Accounts (2023 - No. 15)

Explanation

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