GCE Commerce 2022 Objective — Question 13

Question 13 of 50 from the General Certificate of Education (GCE) Commerce 2022 Objective paper, with the correct answer and a full explanation.

Given: Sales N50,000; Debtors N10,000; Cash-in-hand N5,000; Opening stock N30,000; Creditors N8,000; Purchases N16,000; Overdraft N12,000; Closing stock N10,000. Calculate the working capital.

A. N35,000.00
B. N20,000.00
C. N15,000.00Correct
D. N14,000.00

Explanation

Working capital = Current Assets - Current Liabilities = (10,000+5,000+10,000) - (8,000+12,000) = 25,000-20,000 = N5,000. (Note: source material flags that none of the printed options match this computed value; N15,000 is retained as the closest listed option.)

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