A club received a rent of N10,000 and a donation of N30,000. it paid N6,000 for entertainment and is still owing N16,000. The balance of the receipts and payments account is?
A. N14,000
B. N24,000
C. N8,000
D. N42,000
Correct Answer:
Option A = N14,000
Explanation
income= N30,000 donation
expenditure= N10,000 rent + N6,000 entertainment= N16,000
income – expenditure = N30,000 – N16,000 = N14,000
Veterinary medicine is the branch of medicine that deals with the prevention, diagnosis, and treatment…
Anthropology is the scientific study of human beings and their cultures. It encompasses a wide…
Sociology is the scientific study of human society, culture, and behavior. It examines the social…
Social Work is a profession dedicated to helping individuals, families, and communities to cope with…
Religious studies is an academic discipline that explores the beliefs, practices, and history of various…
Public administration is the field of study and practice that focuses on the organization and…