JAMB - Economics (2018 - No. 73)
The form of capital that is required for the day-to-day running of production activities is called?
Fixed capital
Social Capital
Circulating capital
Liquid capital
Giải thích
Circulating capital otherwise known as working capital is the money used for the day-to-day operations/running of the business. Circulating capital includes cash, operating expenses, raw materials, inventory-in-process, finished goods inventory, and accounts receivable.