WAEC Accounting 2018 Objective — Question 40
Question 40 of 50 from the West African Examinations Council (WAEC) Accounting 2018 Objective paper, with the correct answer and a full explanation.
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Taiwo's share of profit is
- A. ₦8,960
- B. 7,404Correct
- C. ₦4,936
- D. ₦3,296
Explanation
Based on the appropriation account: Net profit less interest on capital and salary, shared 3:5 to 4:5 (Taiwo:Obi), gives Taiwo a share of 7,404.
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