Neco 2019 Commerce Question 23

Practice objective / multiple choice question 23 from the 2019 Neco Commerce examination.

Neco 2019 Commerce Objective / Multiple Choice Medium Difficulty
Question 23 NECO • 2019 • COMMERCE • objective

A partnership between A and B shares profit in the ratio \(3:5\). A also receives a fixed salary of \(\text{₦}20,000\) per month before profit is divided. In a particular month the partnership records total revenue of \(\text{₦}200,000\) and total expenses (excluding A's salary) of \(\text{₦}80,000\). Determine the amount each partner takes home for that month.

Answer Options

A. A receives \\(\\text{₦}45,000\\); B receives \\(\\text{₦}75,000\\)
B. A receives \\(\\text{₦}82,500\\); B receives \\(\\text{₦}37,500\\)
Correct Answer C. A receives \(\text{₦}57,500\); B receives \(\text{₦}62,500\)
D. A receives \\(\\text{₦}65,000\\); B receives \\(\\text{₦}75,000\\)
Correct Answer
C
Correct Option:
A receives \(\text{₦}57,500\); B receives \(\text{₦}62,500\)

About This Question

This is Neco 2019 Commerce Question 23. It is one of the objective questions from the 2019 Neco Commerce examination.

Difficulty level: Medium .

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