Gce Model Questions Vol1 2024 Financial Accounting Question 31
Practice objective / multiple choice question 31 from the 2024 Gce Model Questions Vol1 Financial Accounting examination.
A local council's original budget projected revenue of \(12{,}000{,}000\) and expenses of \(10{,}500{,}000\), giving a budgeted surplus of \(1{,}500{,}000\). At year‑end the cash receipts were \(11{,}800{,}000\) and cash payments \(10{,}200{,}000\). In addition, an accrued expense of \(250{,}000\) has not yet been paid and there is an unspent appropriation of \(300{,}000\), of which \(150{,}000\) may be carried forward as a reserve. What is the adjusted cash surplus to be reported in the financial statements?
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This is Gce Model Questions Vol1 2024 Financial Accounting Question 31. It is one of the objective questions from the 2024 Gce Model Questions Vol1 Financial Accounting examination.
Difficulty level: Hard .
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