JAMB Accounting 2015 Objective — Question 47

Question 47 of 50 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2015 Objective paper, with the correct answer and a full explanation.

The term fiscal compliance means

A. all financial and related laws and regulations are adhered toCorrect
B. only the budget for the current period is complied with and no deficits allowed
C. all physical assets requirements have been met
D. fiscal planning is necessary for proper accountability in the public sector

Explanation

Fiscal compliance means that all associated financial, banking, and other related laws and regulations have been complied with.

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