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Accounts - Principles of Accounts Past Questions and Answers

Topic: Responsibilities and powers

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Jamb Accounts - Principles of Accounts Questions - Responsibilities and powers

Question 6:

Which of the following is credited to the consolidated revenue fund?

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A Recurrent expenditure
B Capital expenditure
C Transfer to revenue fund
D International revenue

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Question 7:

One of the reasons for the existence of the public sector is to?

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A Take adequate care of the needy
B Supplement the commercial sector
C Provide cheap services to all citizens
D Correct perceived inequalities

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Question 8:

An increase in government expenditure within a year is taken care of by means of?

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A Financial regulations
B Virement
C Warrant
D Supplementary estimate

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Question 9:

Which of the following is a signatory to federal government account?

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A Auditor-General
B Governor of Central Bank
C Accountant-General
D Persident

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Question 10:

The chief accounting officer of a local government is the?

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A Chairman
B Treasurer
C Director of personnel
D Auditor

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