Neco 2020 Financial Accounting Question 47
Practice objective / multiple choice question 47 from the 2020 Neco Financial Accounting examination.
During the fiscal year, a government department reported the following budgetary information (all figures in \(\text{₦}\)): Opening unappropriated fund \(\text{₦}150,000\); Appropriation \(\text{₦}1,200,000\); Tax receipts \(\text{₦}800,000\); Grant receipts \(\text{₦}200,000\); Transfer out to other departments \(\text{₦}100,000\); Salaries expenditure \(\text{₦}800,000\); Supplies expenditure \(\text{₦}300,000\); Reported closing cash balance \(\text{₦}300,000\). Determine the amount of unspent appropriation at the end of the year.
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About This Question
This is Neco 2020 Financial Accounting Question 47. It is one of the objective questions from the 2020 Neco Financial Accounting examination.
Difficulty level: Hard .
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