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JAMB Principles of Accounts 2000 Question 46

Question 46

Public Sector Accounting

The channel through which all government borrowing and domestic lending transactions pass is called

  1. A.special trust fund
  2. B.agency fund
  3. C.national loan fund
  4. D.contingency fund.
Show the answer and explanation

Answer: C (national loan fund)

Explanation

The national loans fund handles government borrowing and lending; the contingency fund is kept for emergencies.