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WAEC Commerce 2024 Question 15

Question 15

Business Calculations

Use the information below to answer questions 14 and 15.
D
Opening stock 22,000.00
Purchases 20,000.00
Debtors 12,000.00
Creditors 8,000.00
Closing stock 8,000.00
Overdraft 5,000.00
The value of current liabilities is

  1. A.D10,000.00.
  2. B.D13,000.00.
  3. C.D14,000.00.
  4. D.D15,000.00.
Show the answer and explanation

Answer: B (D13,000.00.)

Explanation

Current liabilities = creditors + overdraft = 8,000 + 5,000 = D13,000.