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Wednesday, 08 April 2026
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Use the following information to answer the given question, \(\begin{array}{c|c} Baba ...

Use the following information to answer the given question,
\(\begin{array}{c|c} & Baba & Tude\\ & N & N \\ \hline \text{Capital Accounts 1 January, 2000} & 40,000 & 50,000\\ \text{Current Accounts 1 January, 2000} & 20,000Cr & 15,000Cr \\ \text{Drawings during the year} & 4,000 & 15,000\\ Salaries & 5,000 & 5,000\end{array}\)
Interest on capital is 10%, the net profit for the year is N40,000. The shares of profit of each partner is
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  • A N20,000
  • B N10,500
  • C N5,000
  • D N4,000
Correct Answer: Option B
Explanation:

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