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The authority to transfer fund from one head to another within the same organization is...

Accounts - Principles of Accounts
JAMB 2023

The authority to transfer fund from one head to another within the same organization is called

  • A. fund
  • B. warrant
  • C. vote
  • D. virement
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Correct Answer: Option D
Explanation

Virement warrants is used to transfer fund from one vote head to another. It is used to create a new vote head but to transfer fund within the same economic head.

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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
Post UTME Past Questions Agent
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts