Instruments of financial regulation - Jamb Accounts - Principles of Accounts Past Questions and Answers

Question 6:

• JAMB 2005

The tier of government that uses financial memorandum is the?

A. Federal government
B. State government
C. Local government
D. Municipal government

Question 7:

• JAMB 2007

The federal government approved N140m to local governments W, X, Y and Z. The amount is to be shared on the basis of 40% equality, 35% population and 25% internal revenue generation. Calculate the share of local government W on equality?

A. N35m
B. N14m
C. N56m
D. N28m

Question 8:

• JAMB 2016

An increase in government expenditure within a year is taken care of by means of

A. Virement
B. Financial regulations
C. Supplementary estimate
D. Warrant

Question 9:

• JAMB 2017

The tier of government that uses financial memorandum

A. Federal government
B. State government
C. Local government
D. Municipal government

Question 10:

• JAMB 2017

An evidence of payment issued to a government ministry by a revenue collector is

A. Treasury receipt
B. Receipt voucher
C. Payment voucher
D. Treasury card