Public Sector Accounting - Jamb Accounts - Principles of Accounts Past Questions and Answers

Question 51:

• JAMB 2012

The Petroleum Technology Development Fund is under the

A. General fund
B. Contingency fund
C. Trust fund
D. Capital fund

Question 52:

• JAMB 2012

The power to appoint the Auditor General of the Federation is vested in the

A. National Assembly
B. President
C. Judicial Service Commission
D. Civil Service Commission

Question 53:

• JAMB 2013

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

Question 54:

• JAMB 2013

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

Question 55:

• JAMB 2014

The expenses incurred in purchasing a vehicle is a

A. Revenue expenditure
B. Capital expenditure
C. Recurrent expenditure
D. Concurrent expenditure