Neco Model Questions Vol1 2022 Commerce Question 28

Practice objective / multiple choice question 28 from the 2022 Neco Model Questions Vol1 Commerce examination.

Neco Model Questions Vol1 2022 Commerce Objective / Multiple Choice Medium Difficulty
Question 28 NECO_MODEL_QUESTIONS_VOL1 • 2022 • COMMERCE • objective

Three persons form a partnership. Their capital contributions and the periods for which the capital is employed are: - A contributes ₦500,000 for 6 months, - B contributes ₦300,000 for 9 months, - C contributes ₦200,000 for 12 months. At the end of the year the partnership records a net profit of ₦720,000 to be shared in proportion to each partner's capital‑time investment. Determine the amount of profit each partner receives.

Answer Options

A. A: ₦260,000; B: ₦250,000; C: ₦210,000
B. A: ₦280,000; B: ₦220,000; C: ₦220,000
Correct Answer C. A: ₦266,667; B: ₦240,000; C: ₦213,333
D. A: ₦270,000; B: ₦235,000; C: ₦215,000
Correct Answer
C
Correct Option:
A: ₦266,667; B: ₦240,000; C: ₦213,333

About This Question

This is Neco Model Questions Vol1 2022 Commerce Question 28. It is one of the objective questions from the 2022 Neco Model Questions Vol1 Commerce examination.

Difficulty level: Medium .

View More Neco Model Questions Vol1 2022 Commerce Questions More Neco Model Questions Vol1 Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support