NABTEB Accounting 2023 Objective — Question 17

Question 17 of 50 from the National Business and Technical Examinations Board (NABTEB) Accounting 2023 Objective paper, with the correct answer and a full explanation.

The allocation of funds from treasury to accounting heads in public sector is (a) float (b) vote (c) virement (d) budget

A. float
B. voteCorrect
C. virement
D. budget

Explanation

A vote is the legal authorisation by the legislature that allows the treasury to release/allocate funds to accounting heads.

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 2023 Objective More Accounting past papers