WAEC Accounting 2013 Paper

Concept:Capital employed is the total long-term funds invested in a business.It is found by subtracting current liabilities from total assets.Explanation:
From the data, total assets $= \text{NGN}520{,}000$.Current liabilities $= \text{N}150{,}000$.Use the formula:Capital employed $=$ Total assets $-$ Current liabilities.Substitute the given values:Capital employed $= \text{N}520{,}000 - \text{N}150{,}000 = \text{N}370{,}000$.The net profit of $\text{NGN}60{,}000$ and current assets of $\text{NGN }280{,}000$ are not required for this computation.Answer:$\text{NGN}370{,}000$ (Option C).