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Accounts - Principles of Accounts 2013 JAMB Past Questions

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46

Accountant-general of the federation is responsible for

  • A. the general supervision of all auditing personnel in all the ministeries
  • B. the compilation of annual financial statement
  • C. the interpretation of rules and regulations affecting the private sectors
  • D. ensuring the efficient operation of the ministries
View Answer & Discuss JAMB 2013
47
Given:

Assets and Liabilities of a Local Government
Bank balance #6,484,000
Cash # 900,000
General revenue balances #9,774,500
Accrued salaries #1,220,000
Investment in shares #1,480,000
Vehicles #7,620,000

Calculate the liabilities of the local government
  • A. #10,994,500
  • B. #17,394,500
  • C. #18,774,500
  • D. #18,874,500
View Answer & Discuss JAMB 2013
48

An instrument which allows public officers to increase expenditure within a year is

  • A. statutory allocation
  • B. supplementary budget
  • C. virement
  • D. warrant
View Answer & Discuss (1) JAMB 2013
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