Neco Model Questions Vol1 2017 Financial Accounting Question 31
Practice objective / multiple choice question 31 from the 2017 Neco Model Questions Vol1 Financial Accounting examination.
A local government council reports the following for the year: Tax revenue (12000000); fees (3500000); intergovernmental grants (4200000); total expenses (15000000) (which include depreciation of (1200000)); accrued expenses of (800000) not yet paid; prepaid expenses of (300000) paid in advance; and capital grants received for infrastructure amounting to (2500000) (cash receipt). Compute the cash surplus for the year.
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This is Neco Model Questions Vol1 2017 Financial Accounting Question 31. It is one of the objective questions from the 2017 Neco Model Questions Vol1 Financial Accounting examination.
Difficulty level: Hard .
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