Free account: track your progress — Sign up free

WAEC Accounting 2024 Objective — Question 37

Question 37 of 50 from the West African Examinations Council (WAEC) Accounting 2024 Objective paper, with the correct answer and a full explanation.

The owner's claim on the asset of a business is

A. capitalCorrect
B. loan
C. liabilities
D. drawings

Explanation

Capital represents the owner's residual claim over the assets of the business.

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.

Create free account

More questions from Accounting 2024 Objective More Accounting past papers