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Use the information below to answer question ..........................31 Dec. 0...


Question

Use the information below to answer question .

.........................31 Dec. 05........31 Dec. 06

Total fixed assets.........₦7 800............₦6 600

Total current assets.......₦12 100............₦17800

Total current liabilities..₦4 700............₦3 800

Drawings for 2006 is ₦5 200.

What is the net profit for 2006?

Options

A) ₦19 000

B) ₦16 000

C) ₦12 600

D) ₦10 600

The correct answer is D.


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