NABTEB Accounting 2025 Objective — Question 12
Question 12 of 60 from the National Business and Technical Examinations Board (NABTEB) Accounting 2025 Objective paper, with the correct answer and a full explanation.
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Government of Nigeria approved N30,000,000 to five local government areas: Equity basis 75%, Population basis 25%. What is the amount to be shared on an equity basis?
- A. N23,500,000
- B. N22,500,000Correct
- C. N21,500,000
Explanation
Amount on equity basis = 75% x N30,000,000 = N22,500,000.
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