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JAMB Principles of Accounts 2004 Question 49

Question 49

Public Sector Accounting

The budget statement presented to the legislature by the Chief Executive is called

  1. A.an appropriation act
  2. B.a budget bill
  3. C.an appropriation bill
  4. D.a budget proposal
Show the answer and explanation

Answer: C (an appropriation bill)

Explanation

The President or Governor presents the budget as an appropriation bill. Once passed and signed it becomes the Appropriation Act.