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JAMB Accounts (Principles of Accounts) questions: Public sector accounting

16 questions with answers and explanations. Tap an option to check yourself.

AllJAMBWAEC
All topicsAccounting concepts and conventions · 18Accounts of not-for-profit organisations · 15Accruals, prepayments and provisions · 17Bank reconciliation statements · 15Branch and departmental accounts · 13Company accounts · 18Control accounts · 15Depreciation of non-current assets · 17Double entry and the ledger · 19Final accounts of a sole trader · 20Incomplete records · 16Manufacturing accounts · 15Nature and purpose of accounting · 15Partnership accounts · 19Petty cash and the imprest system · 12Public sector accounting · 16Source documents and books of original entry · 16The cash book and discounts · 17The trial balance and errors · 19

  1. Question 1· Public sector accounting· JAMB

    A supplementary appropriation is passed when

    Explanation and discussion

  2. Question 2· Public sector accounting· JAMB

    The Accountant-General of the Federation is responsible for

    Explanation and discussion

  3. Question 3· Public sector accounting· JAMB

    The Fiscal Responsibility Act 2007 aims mainly to

    Explanation and discussion

  4. Question 4· Public sector accounting· JAMB

    Government's estimate of revenue and expenditure for a year is the

    Explanation and discussion

  5. Question 5· Public sector accounting· JAMB

    The transfer of savings from one expenditure head to another with approval is called

    Explanation and discussion

  6. Question 6· Public sector accounting· JAMB

    The International Public Sector Accounting Standards adopted by Nigeria require government accounts to be prepared on

    Explanation and discussion

  7. Question 7· Public sector accounting· JAMB

    Capital expenditure in a government budget is spent on

    Explanation and discussion

  8. Question 8· Public sector accounting· JAMB

    The document that authorises government ministries to spend approved funds is the

    Explanation and discussion

  9. Question 9· Public sector accounting· JAMB

    Capital expenditure by government includes

    Explanation and discussion

  10. Question 10· Public sector accounting· JAMB

    The document that authorises the release of funds after the Appropriation Act has been passed is the

    Explanation and discussion

  11. Question 11· Public sector accounting· JAMB

    The main source of revenue for most state governments in Nigeria is

    Explanation and discussion

  12. Question 12· Public sector accounting· JAMB

    Recurrent expenditure includes

    Explanation and discussion

  13. Question 13· Public sector accounting· JAMB

    The officer responsible for auditing the accounts of the Federal Government of Nigeria is the

    Explanation and discussion

  14. Question 14· Public sector accounting· JAMB

    Revenue collected by the Federal Government of Nigeria is paid into the

    Explanation and discussion

  15. Question 15· Public sector accounting· JAMB

    Public sector accounting differs from private sector accounting mainly because its main aim is

    Explanation and discussion

  16. Question 16· Public sector accounting· JAMB

    In Nigeria, the Appropriation Act for the federal budget is passed by the

    Explanation and discussion

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