Neco 2023 Financial Accounting Question 49
Practice objective / multiple choice question 49 from the 2023 Neco Financial Accounting examination.
A government department prepared a cash budget for the month. Opening cash balance: \(20,000\). Expected cash receipts: Tax revenue \(120,000\); Central government grant \(30,000\); Other receipts \(10,000\). Expected cash payments: Salaries \(80,000\); Supplies \(15,000\); Capital outlay \(25,000\). However, \(10\%\) of the tax revenue will be delayed to the next month, and the grant is received in two equal instalments, the first half in the current month. Compute the cash balance at the end of the month.
Answer Options
About This Question
This is Neco 2023 Financial Accounting Question 49. It is one of the objective questions from the 2023 Neco Financial Accounting examination.
Difficulty level: Hard .
Master the Exam!
You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.