The directors of Olu Ltd. recommended a dividend of 10% on 1,000,000 ordinary share capital of N2.00 each. The amount of dividend declared is
-
N200,000
- N100,000
- N20,000
- N10,000
The correct answer is: A
Explanation
value of shares N2 x 1,000,000 shares
= N2,000,000
10% = \(\frac{10}{100}\) x 2,000,000 = 200,000