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JAMB Commerce 1994 Question 12

Question 12

Business Finance

What are fixtures and fittings in a balance sheet?

  1. A.liquid capital
  2. B.current assets
  3. C.fixed assets
  4. D.working capital
Show the answer and explanation

Answer: C (fixed assets)

Explanation

Fixtures and fittings are kept for long-term use in the business, so they are fixed assets.