Waec Model Questions Vol1 2018 Financial Accounting Question 12
Practice objective / multiple choice question 12 from the 2018 Waec Model Questions Vol1 Financial Accounting examination.
A government department received an original appropriation of ₦5,000,000 for the year. During the year it was granted a supplementary appropriation of ₦1,200,000 and a special grant of ₦300,000. Total actual expenditures amounted to ₦4,350,000, of which ₦500,000 were still encumbered (committed but not yet paid) at year‑end. Assuming that only unencumbered balances may be transferred to the next fiscal year, what is the amount of unspent appropriation that can be transferred?
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About This Question
This is Waec Model Questions Vol1 2018 Financial Accounting Question 12. It is one of the objective questions from the 2018 Waec Model Questions Vol1 Financial Accounting examination.
Difficulty level: Hard .
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