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JAMB Principles of Accounts 2009 Question 49

Question 49

Public Sector Accounting

Which of the following is credited to the consolidated revenue fund?

  1. A.Recurrent expenditure
  2. B.Capital expenditure
  3. C.Transfers to revenue fund
  4. D.International revenue
Show the answer and explanation

Answer: D (International revenue)

Explanation

The Consolidated Revenue Fund receives government revenue, so revenue is credited to it. Expenditure, recurrent or capital, is paid out of the fund and charged to it.