Neco Model Questions Vol1 2021 Commerce Question 12

Practice objective / multiple choice question 12 from the 2021 Neco Model Questions Vol1 Commerce examination.

Neco Model Questions Vol1 2021 Commerce Objective / Multiple Choice Medium Difficulty
Question 12 NECO_MODEL_QUESTIONS_VOL1 • 2021 • COMMERCE • objective

Three partners A, B and C start a partnership with capital contributions of ₦\(120{,}000\), ₦\(180{,}000\) and ₦\(200{,}000\) respectively. Profit is to be shared in proportion to capital contributions, but partner C, being senior, receives an additional bonus equal to \(5\%\) of the total profit before distribution. If the partnership earned a net profit of ₦\(150{,}000\) for the year, how much does each partner receive?

Answer Options

A. A: 34200; B: 51300; C: 57000
B. A: 28500; B: 42750; C: 78750
Correct Answer C. A: 34200; B: 51300; C: 64500
D. A: 36000; B: 54000; C: 67500
Correct Answer
C
Correct Option:
A: 34200; B: 51300; C: 64500

About This Question

This is Neco Model Questions Vol1 2021 Commerce Question 12. It is one of the objective questions from the 2021 Neco Model Questions Vol1 Commerce examination.

Difficulty level: Medium .

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