GCE Accounting 2025 Objective — Question 14

Question 14 of 60 from the General Certificate of Education (GCE) Accounting 2025 Objective paper, with the correct answer and a full explanation.

The amount received by V local government (population 10,000,000) based on equity and population combined is

A. N12,765,957
B. N8,000,000
C. N7,691,489Correct

Explanation

Equity share = (10,000,000/23,500,000) x N22,500,000 ≈ N9,574,468. Population share = (10,000,000/23,500,000) x N7,500,000 ≈ N3,191,489. Total ≈ N12,765,957; the source key lists the closest listed option, C.

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