Waec Model Questions Vol1 2017 Financial Accounting Question 14
Practice objective / multiple choice question 14 from the 2017 Waec Model Questions Vol1 Financial Accounting examination.
A local government council approved an annual budget of ₦5,000,000 for the Health Department. In the first six months the department recorded the following cash receipts: Central grant ₦2,200,000, Local taxes ₦800,000, Miscellaneous fees ₦150,000. Cash payments were: Salaries ₦1,200,000, Medical supplies ₦950,000, Maintenance ₦300,000, Training ₦120,000. An audit later found that a payment of ₦250,000 for equipment was omitted from the cash payments and a donation receipt of ₦100,000 was omitted from the cash receipts. What is the revised unspent budget amount at the end of June?
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About This Question
This is Waec Model Questions Vol1 2017 Financial Accounting Question 14. It is one of the objective questions from the 2017 Waec Model Questions Vol1 Financial Accounting examination.
Difficulty level: Hard .
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