Use the information below to answer question
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.
N68,000
B.
N20,000
C.
N74,000
D.
N34,000
Correct answer is A
No explanation has been provided for this answer.
