JAMB Accounting 2009 Objective — Question 8

Question 8 of 50 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2009 Objective paper, with the correct answer and a full explanation.

8. Using the same list (I. Operating Machine II. Furniture III. Fixture and fittings IV. Loans from friends V. Creditors), find the fixed assets.

A. I, II and V
B. I, II and IV
C. I, II and IIICorrect
D. III, IV and V

Explanation

Operating machine, furniture, and fixtures and fittings are all fixed assets (I, II and III).

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