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
Correct Answer: Option A
Explanation
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