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WAEC Commerce 2014 Question 24

Question 24

Business Finance

Buildings and machinery purchased for use in business are examples of

  1. A.current assets.
  2. B.fixed assets.
  3. C.capital employed.
  4. D.paid up capital.
Show the answer and explanation

Answer: B (fixed assets.)

Explanation

Assets bought for long-term use, not resale, are fixed assets.