Question on: JAMB Accounting - 2006
Gross earnings........................N950 000
Current liabilities...................N100 000
Operating expenses....................N350 000
10% debentures........................N400 000
Shareholder's fund....................N1300 000
Corporate tax is 30%
From the data above calculate the returns on equity?
A
33%
B
35%
C
20%
D
30%
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Correct Option: D
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