Commerce Past Questions and Answers

One of the disadvantages of Sole Proprietorship is____________

In the formation of a united liability company, the following documents are prepared except____________

The process of winding up or bringing a company to an end is____________

Use the following information to answer this question.<br/><br/>The following is a summary of the asset and liabilities of Ojo trading company as at 31st December, 2018<br/><br/><table class='tbn'><tbody><tr><td> Initial Capital </td><td> 5000 </td></tr><tr><td> Net Profit </td><td> 1000 </td></tr><tr><td> Furniture </td><td> 2000 </td></tr><tr><td> Equipment </td><td> 2900 </td></tr><tr><td> Debtors </td><td> 100 </td></tr><tr><td> Stock </td><td> 1000 </td></tr><tr><td> Bank </td><td> 500 </td></tr></tbody></table> <br/><br/>From the above, calculate Current assets

The following is a summary of the asset and liabilities of Ojo trading company as at 31st December, 2018<br/>Initial Capital = 5000<br/>Net Profit = 1000<br/>Furniture = 2000<br/>Equipment = 2900<br/>Debtors = 100<br/>Stock = 1000<br/>Bank = 500<br/>From the above, calculate fixed assets