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WAEC Commerce 2016 Question 15

Question 15

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 fixed assets is

  1. A.₦72,000
  2. B.₦47,000
  3. C.₦35,000
  4. D.₦25,000
Show the answer and explanation

Answer: B (₦47,000)

Explanation

Fixed assets = premises + motor vehicle = 32,000 + 15,000 = ₦47,000.