JAMB Commerce 2009 Objective — Question 30

Question 30 of 50 from the Joint Admissions and Matriculation Board (JAMB) Commerce 2009 Objective paper, with the correct answer and a full explanation.

30. The circulating capital of a business enterprise is classified into

A. cash, work-in-progress and debtorsCorrect
B. cash, work-in-progress and debtors
C. cash, vehicles, land and buildings
D. debtors, stocks of raw materials and fittings

Explanation

Circulating capital is the money used in running the day-to-day business of the organisation; it is majorly the current assets.

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