<b><i>Use the information below to answer this question</i></b><br/>A B C Balance Sheet as at 31/12/2004<br/><table class='tbn'><tbody><tr><td> ₦Share capital 200,000Reserves 100,000Long term liabilities 40,000Current liabilities <u> 30,000</u> <u> 370,000</u> </td><td> ₦Fixed assets 180,000Investment 100,000Current assets 50,000Fictitious assets <u> 40,000</u> <u>370,000</u> </td></tr></tbody></table><br/>The total sum of financing short term projects is
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Correct Answer: Option A
Explanation:
Short-term projects are normally financed with short-term sources of funds. From the balance sheet, the current liabilities amount to ₦30,000, and current liabilities represent short-term financing. Therefore, the amount of short-term financing shown is ₦30,000.
Short-term projects are normally financed with short-term sources of funds. From the balance sheet, the current liabilities amount to ₦30,000, and current liabilities represent short-term financing. Therefore, the amount of short-term financing shown is ₦30,000.