Neco Model Questions Vol1 2020 Financial Accounting Question 15
Practice objective / multiple choice question 15 from the 2020 Neco Model Questions Vol1 Financial Accounting examination.
A government department follows the modified accrual basis. At the start of the fiscal year it has an unspent appropriation cash balance of \(150,000\). During the year it incurs expenses of \(200,000\), of which cash payments total \(140,000\) and the remainder are accrued expenses not yet paid. Cash revenues received amount to \(80,000\) and accrued revenues recognised amount to \(30,000\). What cash surplus does the department report at year‑end?
Answer Options
About This Question
This is Neco Model Questions Vol1 2020 Financial Accounting Question 15. It is one of the objective questions from the 2020 Neco Model Questions Vol1 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.