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JAMB Accounting 2014 Objective — Question 21

Question 21 of 50 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2014 Objective paper, with the correct answer and a full explanation.

Using the same information, determine the current liabilities.

A. N8,553
B. N8,263Correct
C. N7,940
D. N1,228

Explanation

Current liabilities = Creditors + Accrual expenses = 7,940+323 = N8,263.

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