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  5. Which fund is used t...

Which fund is used to meet unforeseen or urgent expenditure

Accounts - Principles of Accounts
JAMB 2023

Which fund is used to meet unforeseen or urgent expenditure

  • A. special fund
  • B. contigencies fund
  • C. general reserve fund
  • D. consolidated reserve fund
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Correct Answer: Option B
Explanation

Contigency fund is established by the constitution of 1979 to take care of any nation disaster or unforeseen circumstances.

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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts