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JAMB Principles of Accounts 2005 Question 50

Question 50

Public Sector Accounting

The tier of government that uses financial memorandum is the

  1. A.federal government
  2. B.state government
  3. C.local government
  4. D.municipal government
Show the answer and explanation

Answer: C (local government)

Explanation

Local governments in Nigeria keep their finances under the Financial Memoranda, the rules that guide local government accounting.