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JAMB Principles of Accounts 1999 Question 48

Question 48

Public Sector Accounting

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

  1. A.personal advances, technical and public funds
  2. B.technical, special trust and commercial funds
  3. C.personal advances, treasury clearance and special trust funds
  4. D.commercial loans and treasury clearance funds
Show the answer and explanation

Answer: A (personal advances, technical and public funds)

Explanation

The key lists personal advances, technical and public funds as the funds used to account for government spending.