WAEC Accounting 2022 Objective — Question 3

Question 3 of 50 from the West African Examinations Council (WAEC) Accounting 2022 Objective paper, with the correct answer and a full explanation.

The letter Y represents

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

Explanation

Assets = Capital + Liabilities, so Fixed Assets (Y) = Capital + Liabilities − Current Assets = 116,780 + 53,220 − 41,650 = N128,350. (Note: the source's own solution computed Y = 116,780 + 53,220 − 41,650 = 128,350, corresponding to option C, not D as literally printed in the source key — the source key appears to contain a typo; the worked calculation itself points to option C.)

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