WAEC Book Keeping 2024 Objective — Question 7
Question 7 of 40 from the West African Examinations Council (WAEC) Book Keeping 2024 Objective paper, with the correct answer and a full explanation.
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7. A balance sheet shows A.
- A. current assets minus current liabilities.
- B. the difference between fixed assets and current liabilities.
- C. assets and sources of financing them.Correct
- D. sources of funding owner's equity.
Explanation
The balance sheet is an expression of assets = capital + liabilities. It shows assets and claims against the assets.
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