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
A. N 68 000
B. N 20 000
C. N 74 000
D. N 34 000
Correct Answer:
Option A – N 68 000
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