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

  • A N80,000
  • B N60,000
  • C N40,000
  • D N20,000

The correct answer is B. N60,000

No explanation given
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