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WAEC Commerce 1991 (August) Question 43

Question 43

Business Finance

The total assets acquired for permanent use in a business concern is called

  1. A.current assets
  2. B.fixed assets
  3. C.called-up capital
  4. D.working capital
  5. E.authorised capital
Show the answer and explanation

Answer: B (fixed assets)

Explanation

Fixed assets are kept for long-term use, not for resale.