WAEC Accounting 2021 Objective — Question 7
Question 7 of 50 from the West African Examinations Council (WAEC) Accounting 2021 Objective paper, with the correct answer and a full explanation.
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Attama's share of profit is
- A. D21,000
- B. D19,428
- C. D12,000Correct
- D. D9,000
Explanation
Attama's share of the residual profit = 4/7 x D21,000 = D12,000 (based on the 4:3 profit-sharing ratio).
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