JAMB Past Questions and Answers - Page 1356

6,776.

Recurrent expenditure are expenses for the period not exceeding?

A.

10 years

B.

5 years

C.

2 years

D.

1 year

Correct answer is D

No explanation has been provided for this answer.

6,777.

The channel through which all government borrowing and domestic lending transactions pass is called

A.

Special trust fund

B.

Agency fund

C.

National loan fund

D.

Contingency fund

Correct answer is D

No explanation has been provided for this answer.

6,779.

The body constitutionally charged with the responsibility of examining the audited accounts of the Federation and other reports as referred by the National Assembly is the?

A.

Public Accounts Committee

B.

Public Audit Committee

C.

Internal Audit Committee

D.

External Audit Committee

Correct answer is A

No explanation has been provided for this answer.

6,780.

The most appropriate basis for apportioning inventory holding cost among departments is to use the value of

A.

Purchases

B.

Opening stock

C.

Closing stock

D.

Average stock

Correct answer is B

No explanation has been provided for this answer.