passwella.
Menu

WAEC Financial Accounting 1995 Question 2

Question 2

Public Sector Accounting

Which of the following is the basis of accounting in the Civil Service?

  1. A.Accrual
  2. B.Cash
  3. C.Income
  4. D.Expenditure
  5. E.Profit
Show the answer and explanation

Answer: B (Cash)

Explanation

Government accounts record money when it is actually received or paid: the cash basis.