NABTEB Accounting 2020 Objective — Question 3

Question 3 of 50 from the National Business and Technical Examinations Board (NABTEB) Accounting 2020 Objective paper, with the correct answer and a full explanation.

Using the table in Q2, the letter Y represents

A. N211,650
B. N170,000
C. N128,350Correct
D. N94,870

Explanation

Fixed Assets(Y) = Capital + Liabilities - Current Assets = 116,780 + 53,220 - 41,650 = N128,350 (prepare a balance sheet to find Y).

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