It is the tradition of the club to write off an amount equal to 25% of the subscriptions received as other expenses. What is the amount to be written off as...
Question 1 Report
It is the tradition of the club to write off an amount equal to 25% of the subscriptions received as other expenses.
What is the amount to be written off as other expenses?
Answer Details
The amount to be written off as other expenses is dependent on the total subscriptions received by the club. If we know the total subscriptions received, we can calculate the amount to be written off as other expenses by multiplying the total subscriptions by 25%. For example, if the total subscriptions received is ₦20,000, the amount to be written off as other expenses would be:
₦20,000 x 25% = ₦5,000
Therefore, the correct answer is option D, ₦5000.
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