WAEC Accounting 2016 Objective — Question 14
Question 14 of 50 from the West African Examinations Council (WAEC) Accounting 2016 Objective paper, with the correct answer and a full explanation.
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14. Which of the following items is a current liability? A. Stock of raw materials B. Cash in hand C. Bills payable D. Cash at bank
- A. Stock of raw materials
- B. Cash in hand
- C. Bills payableCorrect
- D. Cash at bank
Explanation
Current liabilities are claims against the assets of the company which lasts for a single year, such as bills payable.
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