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NECO Accounting 2022 Objective — Question 34

Question 34 of 50 from the National Examinations Council (NECO) Accounting 2022 Objective paper, with the correct answer and a full explanation.

Using the information in Q32, Teteh's share of interest on capital is

A. #75,000
B. #25,000
C. #15,000Correct
D. #10,000

Explanation

Interest on capital = 5% x 300,000 = #15,000.

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