WAEC Commerce 2022 Objective — Question 12

Question 12 of 50 from the West African Examinations Council (WAEC) Commerce 2022 Objective paper, with the correct answer and a full explanation.

An internal source of finance to an entrepreneur is

A. trade credit
B. retained earningCorrect
C. overdraft
D. debenture

Explanation

Retained earning is part of the profit that the business ploughs back into itself, making it an internal (as opposed to external/borrowed) source of finance.

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