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WAEC Financial Accounting 2008 Question 50

Question 50

Public Sector Accounting

Which of the following is not an instrument for controlling public expenditure?

  1. A.Constitution
  2. B.Financial regulation
  3. C.Budget
  4. D.Memorandum of association.
Show the answer and explanation

Answer: D (Memorandum of association.)

Explanation

The memorandum of association governs companies, not public spending.