Net profit for the year ended on 31st March, 2020 is Rs.2,42,000 and manager is entitled to
a commission of 10% on the net profit after charging such commission. The amount of
commission shown in profit and loss account will be: (a) Rs.22,000 (b) Rs. 11,000 (c)
Rs.24,200 (d) Rs.22,400
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Explanation:
Net profit for the year ended on 31st March, 2020 is Rs.2,42,000 and manager is entitled to
a commission of 10% on the net profit after charging such commission. The amount of
commission shown in profit and loss account will be: (a) Rs.22,000 (b) Rs. 11,000 (c)
Rs.24,200 (d) Rs.22,400 answer is option c 24200
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