passwella.
Menu

JAMB Principles of Accounts 2003 Question 42

Question 42

Public Sector Accounting

Given:
I. the consolidated revenue fund balance b/d ₦650 000
II. issues from contingency fund amounted to ₦240 000
III. amount transferred to contingency fund is ₦210 000
What is the consolidated revenue fund balance?

  1. A.₦1 100 000
  2. B.₦680 000
  3. C.₦440 000
  4. D.₦410 000
Show the answer and explanation

Answer: B (₦680 000)

Explanation

650 000 + 240 000 − 210 000 = ₦680 000.