JAMB Commerce 2018 Objective — Question 30
Question 30 of 40 from the Joint Admissions and Matriculation Board (JAMB) Commerce 2018 Objective paper, with the correct answer and a full explanation.
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Which of the following items above constitute internal sources of financing for companies? I. Personal savings II. Retained Earnings III. Accrued Taxes
- A. I and II
- B. I and III
- C. II and IIICorrect
- D. I, II and III
Explanation
Personal savings is external to the business (the owner and the business are distinct bodies). Retained earnings and accrued taxes form part of internal sources of finance for a business.
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