Use the following information to answer the giv... - WAEC Accounting 2001 Question
Use the following information to answer the given question
\(\begin{array}{c|c} & N\ \hline \text{Motor Van} & 120,000\ \text{Buildings} & 300,000 \ \text{Stock of goods} & 40,000\end{array}\)
In addition, he had cash ofN60,000 out of which N20,000 was borrowed from a friend.
The liabilities of the business amount to
\(\begin{array}{c|c} & N\ \hline \text{Motor Van} & 120,000\ \text{Buildings} & 300,000 \ \text{Stock of goods} & 40,000\end{array}\)
In addition, he had cash ofN60,000 out of which N20,000 was borrowed from a friend.
The liabilities of the business amount to
A
N80,000
B
N60,000
C
N40,000
D
N20,000
correct option: b
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