Post Utme Caleb University 2017 Accounting Question 24

Practice objective / multiple choice question 24 from the 2017 Post Utme Caleb University Accounting examination.

Post Utme Caleb University 2017 Accounting Objective / Multiple Choice
Question 24 POST_UTME_CALEB_UNIVERSITY • 2017 • ACCOUNTING • objective

A government agency is responsible for collecting taxes on behalf of the government. The agency has a budget of ₦500,000 and has collected ₦400,000 in taxes. However, the agency has also incurred an expense of ₦20,000. What is the agency's surplus?

Answer Options

A. ₦380,000
Correct Answer B. ₦400,000
C. ₦420,000
D. ₦440,000
Correct Answer
B
Correct Option:
₦400,000

About This Question

This is Post Utme Caleb University 2017 Accounting Question 24. It is one of the objective questions from the 2017 Post Utme Caleb University Accounting examination.

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