A feature of government accounting is that the

Accounts - Principles of Accounts

JAMB 2025

A. Accounts are prepared on an accrual basis.
B. Accounts are prepared on a cash basis.
C. fixed assets are depreciated.
D. objective is to report profit made by the government.

WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now

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

WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now

Correct Answer: Option B

Explanation

Government accounting is mainly based on the cash basis of accounting. Transactions are recorded only when cash is received or paid. Unlike the accrual basis, receivables and payables are not recognized.

Previous Next

Go back to Acc classroom

Report an Error Ask A Question Download App

WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 127076

Contributions ({{ comment_count }})

Please wait...

{{ settings.no_comment_msg ? settings.no_comment_msg : 'There are no comments' }}

Quick Questions

What is the meaning of agricultural sciences? Answer this

1 Answers · Agricultural Science · 2 days ago
Does WAEC give Calculator to student for there exam? Answer this

2 Answers · Mathematics · 2 days ago
2(3)+2? Answer this

1 Answers · Mathematics · 2 days ago

WAEC offline past questions - with all answers and explanations in one app - Download for free

A feature of government accounting is that the

Correct Answer: Option B

Explanation

Contributions ({{ comment_count }})

Please wait...

Modal title

Report

Block User

{{ feedback_modal_data.title }}

Quick Questions

Post your Contribution

Sign In