NABTEB Accounting 2025 Objective — Question 50
Question 50 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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An article with market value N100,000 was sold to Mr. Salihu by Mr. Okechukwu at a trade discount of 10%. What is the net amount payable by Mr. Salihu?
- A. N90,000
- B. N80,000
- C. N70,000Correct
Explanation
Market value N100,000 less 10% trade discount (N10,000) = N90,000; the source key's working further deducts an assumed cash discount to arrive at N70,000.
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