Use the following information to answer the given question

10,000 ordinary shares of N1 each ——————————————- #10,000

5,000 5% preference shares of N1 each ————————————– #5,000

Profit and loss account ——————————————————— #8,000

8% debenture ——————————————————————– #10,000

creditors —————————————————————————#3,000

Bank overdraft ——————————————————————–#2,000

Plants and machinery ————————————————————#10,000

Plant and machinery ————————————————————-#10,000

Furniture and fittings ———————————————————–#8,000

stock ——————————————————————————-#8,000

debtors —————————————————————————-#5,000

 

Using the information provided, what is the value of current liability?

A. N13,000
B. N10,000
C. N5,000
D. N3,000
E. N2,000

Correct Answer: Option C

C. N5,000