Commerce Past Questions and Answers

The excess of the assets over the liabilities of a business is called

Use the information below to answer this question
A B C Balance Sheet as at 31/12/2004

₦Share capital 200,000Reserves 100,000Long term liabilities 40,000Current liabilities 30,000 370,000

₦Fixed assets 180,000Investment 100,000Current assets 50,000Fictitious assets 40,000 370,000

The total sum of financing short term projects is

Use the information below to answer this question
A B C Balance Sheet as at 31/12/2004

₦Share capital 200,000Reserves 100,000Long term liabilities 40,000Current liabilities 30,000 370,000

₦Fixed assets 180,000Investment 100,000Current assets 50,000Fictitious assets 40,000 370,000

What is the capital employed?

A distinctive advantage of GSM is its

A form of money that has gone out of use is