Question on: JAMB Accounting - 2006
Use the information below to answer questions
Turnover...........................N120 000
Net profit before tax..............N40 000
Net profit b/f.....................N68 000
Proposed dividends:
Ordinary shares....................N8 000
Preference shares..................N6 000
Corporate tax is 30%...............N10 000
The undistributed profit carried forward is?
A
N 68 000
B
N 20 000
C
N 74 000
D
N 34 000
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Correct Option: A
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