JAMB Accounting 2022 Objective — Question 20

Question 20 of 40 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2022 Objective paper, with the correct answer and a full explanation.

A governmental accounting system takes

A. accrual basis
B. cash basisCorrect
C. recurrent basis
D. fraud basis

Explanation

Government accounting is prepared on a cash basis because it is a yearly transaction recorded in the budget that will be executed within the year.

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