Post Utme Unilag 2017 Accounting Question 17

Practice objective / multiple choice question 17 from the 2017 Post Utme Unilag Accounting examination.

Post Utme Unilag 2017 Accounting Objective / Multiple Choice
Question 17 POST_UTME_UNILAG • 2017 • ACCOUNTING • objective

In a partnership with a 3:5:7 ratio, the total capital invested is ₦3.5 million. If the profits are shared in the same ratio, and the total profit for the year is ₦1.2 million, what is the share of profit for the partner with a 7:1 ratio?

Answer Options

A. ₦420,000
B. ₦450,000
Correct Answer C. ₦480,000
D. ₦510,000
Correct Answer
C
Correct Option:
₦480,000

About This Question

This is Post Utme Unilag 2017 Accounting Question 17. It is one of the objective questions from the 2017 Post Utme Unilag Accounting examination.

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