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JAMB Principles of Accounts 1999 Question 3

Question 3

Introduction to Accounting

The need for changes in acounting theory in Nigeria was influenced by the

  1. A.dynamics of commercialization and privatization policies
  2. B.growth in size of business units
  3. C.introduction of the structural adjustment programme
  4. D.inconvertibility of the nation's currency.
Show the answer and explanation

Answer: B (growth in size of business units)

Explanation

As businesses grew bigger and more complex, accounting ideas and rules had to develop to meet their needs.