Neco 2022 Financial Accounting Question 31
Practice objective / multiple choice question 31 from the 2022 Neco Financial Accounting examination.
During the month the cash book shows an opening balance of \(\text{₦}10,000\). Total receipts recorded are \(\text{₦}100,000\) and total payments recorded are \(\text{₦}85,000\). It is later discovered that a cash receipt of \(\text{₦}7,500\) was omitted from the receipts column and a payment of \(\text{₦}2,000\) was recorded twice in the payments column. What is the corrected closing cash balance?
Answer Options
About This Question
This is Neco 2022 Financial Accounting Question 31. It is one of the objective questions from the 2022 Neco Financial Accounting examination.
Difficulty level: Medium .
Master the Exam!
You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.