Accounting information seeks to provide
Permanent records for all transactions
Analysis of accounts to trade debtors
Audited reports on the accounts of a company
Data about the employees of a company
Correct answer is A
Accounting is simply keeping of all business transaction records so as to help a business make informed decisions in future
The power to appoint the Auditor General of the Federation is vested in the
National Assembly
President
Judicial Service Commission
Civil Service Commission
Correct answer is B
The Auditor General for the Federation is appointed by the President.
The Petroleum Technology Development Fund is under the
General fund
Contingency fund
Trust fund
Capital fund
Correct answer is D
No explanation has been provided for this answer.
The book into which all types of a ministry's expenditure are recorded is the
Ledger book
Payment book
Vote book
Expenditure book
Correct answer is C
A vote book is an accounts book which is used to record. and monitor expenditure in the public sector.
Which of the following is a source of revenue to the federation account?
Market fees
Bicycle licences
Tarrifs
Property rates
Correct answer is C
Tariff is a tax or duty to be paid on a particular class of imports or exports. It is a source of revenue to the government because these taxes are paid to the government of the importing country.