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

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

AllJAMBWAEC
All topicsAccounting concepts and conventions · 17Accounts of not-for-profit organisations · 14Accruals, prepayments and provisions · 17Bank reconciliation statements · 16Branch and departmental accounts · 16Company accounts · 15Control accounts · 15Depreciation of non-current assets · 17Double entry and the ledger · 19Final accounts of a sole trader · 19Incomplete records · 15Manufacturing accounts · 14Nature and purpose of accounting · 14Partnership accounts · 15Petty cash and the imprest system · 14Public sector accounting · 14Source documents and books of original entry · 14The cash book and discounts · 16The trial balance and errors · 16

  1. Question 1· Public sector accounting· WAEC

    In public sector accounting, a warrant authorises

    Explanation and discussion

  2. Question 2· Public sector accounting· WAEC

    The Consolidated Revenue Fund is

    Explanation and discussion

  3. Question 3· Public sector accounting· WAEC

    Public sector accounting differs from private sector accounting because it

    Explanation and discussion

  4. Question 4· Public sector accounting· WAEC

    The Auditor-General for the Federation audits

    Explanation and discussion

  5. Question 5· Public sector accounting· WAEC

    Government accounting mainly uses the

    Explanation and discussion

  6. Question 6· Public sector accounting· WAEC

    Government revenue is paid into a single Treasury account under the policy known as

    Explanation and discussion

  7. Question 7· Public sector accounting· WAEC

    A government's estimate of its revenue and expenditure for a year is the

    Explanation and discussion

  8. Question 8· Public sector accounting· WAEC

    The officer responsible for auditing federal government accounts is the

    Explanation and discussion

  9. Question 9· Public sector accounting· WAEC

    The Auditor-General audits

    Explanation and discussion

  10. Question 10· Public sector accounting· WAEC

    The main aim of public sector accounting is

    Explanation and discussion

  11. Question 11· Public sector accounting· WAEC

    In Nigeria, all federal revenues are paid into the

    Explanation and discussion

  12. Question 12· Public sector accounting· WAEC

    A supplementary budget is passed when

    Explanation and discussion

  13. Question 13· Public sector accounting· WAEC

    The officer who controls spending in a ministry is the

    Explanation and discussion

  14. Question 14· Public sector accounting· WAEC

    The annual budget passed by the legislature becomes the

    Explanation and discussion

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