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WAEC Financial Accounting 1993 Question 33

Question 33

Final Accounts of a Sole Trader

Which of the following is the most liquid?

  1. A.Land and Building
  2. B.Cash at Bank
  3. C.Machinery
  4. D.Goodwill
  5. E.Furniture and fittings.
Show the answer and explanation

Answer: B (Cash at Bank)

Explanation

Cash at bank can be spent at once: it is the most liquid.