NABTEB Accounting 2025 Objective — Question 7
Question 7 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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Okon and Yusuf are partners sharing profits and losses equally. Capital a/c 1/1/18: Okon N800,000, Yusuf N1,000,000. Interest on capital is 10%. The interest on Okon's capital is
- A. N180,000
- B. N109,000
- C. N95,000
Explanation
Interest on Okon's capital = N800,000 x 10% = N80,000.
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