JAMB Accounting 2016 Objective — Question 34

Question 34 of 40 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2016 Objective paper, with the correct answer and a full explanation.

34. Public sector accounting is based on (a) cash (b) accrual (c) budgets (d) consolidated fund

A. cashCorrect
B. accrual
C. budgets
D. consolidated fund

Explanation

Public sector accounting operates on cash basis as all accounts are opened and closed within a year.

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