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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 16:

Capital and revenue expenditures of government are usually accounted for under funds which include

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A Technical, special trust and commercial funds
B Personal advances, technical and public funds
C Personal advances, treasury clearance and special trust funds
D Commercial loans and treasury clearance funds

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Question 17:

Which fund is used to meet unforeseen or urgent expenditure ____________

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A Special fund
B Contigencies fund
C General reserve fund
D Consolidated reserve fund

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Question 18:

Which of the following is used in the public sector to monitor or control government expenditure?

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A Sales day book
B Cash book
C Cheque
D Vote book

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