Neco 2018 Financial Accounting Question 3

Practice objective / multiple choice question 3 from the 2018 Neco Financial Accounting examination.

Neco 2018 Financial Accounting Objective / Multiple Choice Easy Difficulty
Question 3 NECO • 2018 • FINANCIAL_ACCOUNTING • objective

A cash sale of ₦30,000 was made during the month. The opening cash balance at the start of the month was ₦10,000. Record the journal entry for the sale and compute the closing cash balance at month‑end.

Answer Options

A. 30000
Correct Answer B. 40000
C. 35000
D. 50000
Correct Answer
B
Correct Option:
40000

About This Question

This is Neco 2018 Financial Accounting Question 3. It is one of the objective questions from the 2018 Neco Financial Accounting examination.

Difficulty level: Easy .

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