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WAEC Financial Accounting 2012 Question 17

Question 17

Public Sector Accounting

The name given to a budget in public service accounting is

  1. A.vote.
  2. B.subvention.
  3. C.general order.
  4. D.estimate.
Show the answer and explanation

Answer: D (estimate.)

Explanation

Government budgets are called estimates: forecasts of revenue and expenditure for the coming year.