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WAEC Commerce 2022 Question 12

Question 12

Business Finance

An internal source of finance to an entrepreneur is

  1. A.trade credit
  2. B.retained earning
  3. C.overdraft
  4. D.debenture
Show the answer and explanation

Answer: B (retained earning)

Explanation

Retained earnings are profits kept in the business, so they come from inside it; the others come from outsiders.