(a) What is an economic grouping?
(b) State three objectives of each of the following organizations
I) Lake Chad Basin Commission
ii) ECOWAS
Iii) Niger Basin Commission
(a) Explain the following types of capital (i)Authorized capital (ii) Liquid capital
(b) the following records were extracted from the books of Bandin and Bachur Partnership as at March 31st, 2020
Equipment
I50,000
Cash at bank
25.000
Creditors
120.000
Debtors
150 000
Stock as at 1/03/20
30.000
Motor van
300,000
Fixtures and fittings
40,000
Overdraft
45.000
Stock as at 31/ 03/ 20
25,000
Calculate: (i) Fixed assets. (ii) Current liabilities: (iii) Current assets: (iv) Working capital (v) Average stock
