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JAMB Principles of Accounts 2013 Question 50

Question 50

Public Sector Accounting

An instrument which allows public officers to increase expenditure within a year is

  1. A.statutory allocation.
  2. B.supplementary budget.
  3. C.virement.
  4. D.warrant.
Show the answer and explanation

Answer: B (supplementary budget.)

Explanation

A supplementary budget approves extra spending on top of the original budget during the year.