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WAEC Financial Accounting 1993 Question 37

Question 37

Company Accounts

Debenture is a

  1. A.current asset
  2. B.fixed asset
  3. C.long term liability
  4. D.current liability
  5. E.tangible asset.
Show the answer and explanation

Answer: C (long term liability)

Explanation

Debentures are long-term loans to the company.