JAMB Commerce 2009 Objective — Question 31

Question 31 of 50 from the Joint Admissions and Matriculation Board (JAMB) Commerce 2009 Objective paper, with the correct answer and a full explanation.

31. Ojo's Balance Sheet as at 31st December, 2006 (given). Determine the value of Ojo's fixed assets.

A. N14,450
B. N13,450Correct
C. N13,005
D. N12,005

Explanation

Fixed assets = land and building + fittings + motor vans = 12,000 + 850 + 1,600 = N14,450.

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