Neco 2018 Commerce Question 9
Practice objective / multiple choice question 9 from the 2018 Neco Commerce examination.
A manufacturing firm prepares the following cash‑flow data for the year:\n- Opening cash balance: \(150\,000\) N\n- Cash sales: \(500\,000\) N\n- Credit sales: \(300\,000\) N, of which 60\% is collected in the same year\n- Purchases on credit: \(350\,000\) N, of which 70\% is paid in cash during the year\n- Operating expenses (cash): \(120\,000\) N\n- Depreciation (non‑cash): \(40\,000\) N\n- Interest expense (cash): \(15\,000\) N\n- Tax rate: 30\% on profit before tax (profit before tax includes depreciation)\nUsing this information, determine the closing cash balance at the end of the year.
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About This Question
This is Neco 2018 Commerce Question 9. It is one of the objective questions from the 2018 Neco Commerce examination.
Difficulty level: Hard .
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