Post Utme Nile University 2020 Accounting Question 9

Practice objective / multiple choice question 9 from the 2020 Post Utme Nile University Accounting examination.

Post Utme Nile University 2020 Accounting Objective / Multiple Choice
Question 9 POST_UTME_NILE_UNIVERSITY • 2020 • ACCOUNTING • objective

A government agency prepares its financial statements for the year ended 31st December 2020. The financial statements show a surplus of ₦500,000. What is the correct explanation for this surplus?

Answer Options

Correct Answer A. The agency has collected more revenue than it has spent.
B. The agency has spent more than it has collected.
C. The agency has made an error in its financial statements.
D. The agency has made an error in its budget.
Correct Answer
A
Correct Option:
The agency has collected more revenue than it has spent.

About This Question

This is Post Utme Nile University 2020 Accounting Question 9. It is one of the objective questions from the 2020 Post Utme Nile University Accounting examination.

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