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WAEC Commerce 2016 Question 13

Question 13

Business Calculations

Use the following information relating to Bala Enterprises (₦): Premises 32,000; Motor vehicle 15,000; Debtors 15,000; Stock 20,000; Creditors 10,000.
The value of current assets is

  1. A.₦35,000
  2. B.₦32,000
  3. C.₦25,000
  4. D.₦10,000
Show the answer and explanation

Answer: A (₦35,000)

Explanation

Current assets = debtors + stock = 15,000 + 20,000 = ₦35,000.