Use the following information to answer this question
A business whose assets consisted of stock N15,000 and debtors N8,000 was bought by issuing 20,000 ordinary shares of N1 each at a premium of 20 percent.
A. N24,000
B. N23,000
C. N20,000
D. N15,000
E. N8,000
Correct Answer:
Option A – N24,000
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