JAMB Accounting 2014 Objective — Question 49
Question 49 of 50 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2014 Objective paper, with the correct answer and a full explanation.
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The account of government into which all monies are received from and from which all expenditures are disbursed is the
- A. Federal AccountCorrect
- B. Petroleum Technology Development Fund
- C. Central Bank Account
- D. Development Fund
Explanation
The federation account records all money received and disbursed in form of sharing owing to the various state, local government and the special funds.
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