Accounts - Principles of Accounts Past Questions and Answers

Which of the following are sources of revenue to state government in Nigeria?
I Statutory allocation
II Fines from customary courts
III Petroleum tax
IV Income tax
IV

Eko Local Government expenditure
Hospital building ---------------------- N200,000
Drugs ---------------------------------- N180,000
Hospital beds and mattresses ------------ N40,000
Doctors' and nurses' salaries ---------- N120,000
Administrative expenses ----------------- N50,000
Capital expenditure is

Eko Local Government expenditure
Hospital building ---------------------- N200,000
Drugs ---------------------------------- N180,000
Hospital beds and mattresses ------------ N40,000
Doctors' and nurses' salaries ---------- N120,000
Administrative expenses ----------------- N50,000
Recurrent expenditure is

A government accounting systems must make sure that

Equity shareholders' fund is