NECO Accounting 2022 Objective — Question 3
Question 3 of 50 from the National Examinations Council (NECO) Accounting 2022 Objective paper, with the correct answer and a full explanation.
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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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