WAEC Book Keeping 2024 Objective — Question 37

Question 37 of 40 from the West African Examinations Council (WAEC) Book Keeping 2024 Objective paper, with the correct answer and a full explanation.

37. The excess of the assets of a business over its liabilities is A.

A. capital owned.Correct
B. working capital.
C. issued capital.
D. liquid capital.

Explanation

The accounting equation states that capital + liabilities = assets. Thus, capital = assets - liabilities.

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