The conventional sources of public revenue includes
Loans, taxation, foreign reserves and dividends
Interest, royalties, taxation and loans
Crude oil, interest, posted price and taxation
Taxation, deficit budgeting, royalties and loans
Correct answer is B
No explanation has been provided for this answer.
Which of the following account is kept by local governments in Nigeria?
Balance sheet
Advances account
Debtors account
Profit account
Correct answer is B
No explanation has been provided for this answer.
Capital and revenue expenditures of government are usually accounted for under funds which include
A personal advances, technical, special trust
Technical, special trust and commercial funds
Personal advances, treasury clearance and special trust funds
Commercial loans and treasury clearance funds
Correct answer is A
No explanation has been provided for this answer.
What is the correct entry in the head office books at the point of initial transfer of the goods?
Branch stock account would be credited
Branch stock account would be debited with N12,000
Goods sent to branch account would be debited with N10,800
Goods sent to branch account would be credited with N12,000
Correct answer is D
No explanation has been provided for this answer.
Debit to goods sent to branch account
Debit to branch stock adjustment account
Credit to branch adjustment account
Credit to branch stock adjustment account
Correct answer is D
No explanation has been provided for this answer.