Neco Model Questions Vol1 2018 Commerce Question 36
Practice objective / multiple choice question 36 from the 2018 Neco Model Questions Vol1 Commerce examination.
Partner A, B and C run a partnership. Their capital contributions are \(\text{₦}120,000\), \(\text{₦}80,000\) and \(\text{₦}100,000\) respectively, and profit is shared in proportion to capital after a managing partner's fixed salary of \(\text{₦}12,000\) is paid to A. The partnership earns a profit of \(\text{₦}84,000\) for the year. A new partner D joins, contributing \(\text{₦}150,000\), and the same salary arrangement continues. Assuming the profit for the next year remains \(\text{₦}84,000\), what amount will D receive from the profit distribution?
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About This Question
This is Neco Model Questions Vol1 2018 Commerce Question 36. It is one of the objective questions from the 2018 Neco Model Questions Vol1 Commerce examination.
Difficulty level: Medium .
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