WAEC Accounting 2017 Objective — Question 32
Question 32 of 50 from the West African Examinations Council (WAEC) Accounting 2017 Objective paper, with the correct answer and a full explanation.
Advertisement
32. A statement of affairs shows
- A. A. receipts and payments
- B. B. revenue and expenditure
- C. C. financial positionCorrect
- D. D. profit or loss
Explanation
Statement of affairs is the equivalent of balance sheet. Thus, it shows the financial position of the organisation.
Advertisement
Sign up free to unlock
- Score tracking
- Practice history
- Saved questions
- Progress dashboard
- Personalized sessions
- Weak-topic breakdown
…and/or go further with premium services and No Ads.