NECO Accounting 2025 Objective — Question 13

Question 13 of 60 from the National Examinations Council (NECO) Accounting 2025 Objective paper, with the correct answer and a full explanation.

Using the same allocation (population 25%; Z's population 500,000 of total 23,500,000), the amount received by Z's local government based on a population basis is

A. N500,000
B. N350,000
C. N167,489

Explanation

Population basis pool = 25% x N30,000,000 = N7,500,000. Z's share = (500,000/23,500,000) x 7,500,000 ≈ N159,574; the source key lists the closest listed option, E.

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