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JAMB Principles of Accounts 2011 Question 45

Question 45

Public Sector Accounting

The fund in which all government receipts are paid is

  1. A.consolidated revenue fund
  2. B.development fund
  3. C.trust fund
  4. D.contingency fund.
Show the answer and explanation

Answer: A (consolidated revenue fund)

Explanation

All revenues of the federation are paid into the Consolidated Revenue Fund.