A. N583,000
B. N563,000
C. N483,000
D. N581,000
Correct Answer:
Option A – N583,000
Explanation
Revenue = 820,000
miscellaneous = 10% of 820,000
10/100×820,000 = 82,000
miscellaneous expense= 82,000
Expenses = office rent + nepa (light) + salary of staff + miscellaneous
20,000 + 15,000 + 120,000 + 82,000 = 237,000
net income = revenue – expenses
820,000 – 237,000 = 583000
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