NABTEB Accounting 2020 Objective — Question 44

Question 44 of 50 from the National Business and Technical Examinations Board (NABTEB) Accounting 2020 Objective paper, with the correct answer and a full explanation.

The authority to incur expenditure to address a natural disaster is contained in a(n)

A. virement warrant
B. reserved expenditure warrant
C. supplementary general warrant
D. contingency warrantCorrect

Explanation

A contingency warrant authorizes access to the contingency fund, which is set aside for unforeseen events such as natural disasters.

Sign up free to unlock

Score tracking
Practice history
Saved questions
Progress dashboard
Personalized sessions
Weak-topic breakdown

…and/or go further with premium services and No Ads.

Create free account

More questions from Accounting 2020 Objective More Accounting past papers