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WAEC Commerce 2026 Question 16

Question 16

Business Calculations

Use the information below to answer questions 14 to 16.
The following are assets and liabilities of Ken's Trading as at December 31, 2025.
Fixed asset - D 10,000
Cash - D 5,000
Stock - D 1,000
Bank overdraft - D 3,000
The value of current liabilities is

  1. A.D 6,000
  2. B.D 5,000
  3. C.D 4,000
  4. D.D 3,000
Show the answer and explanation

Answer: D (D 3,000)

Explanation

The only current liability is the bank overdraft of D3,000.