ACC418 – 2019

Public sector accounting is a system of … through which the established institutions of the public render stewardship

·            Accounting

·            Accountability

·            Transparency

·            Financial accounting

This group needs government accounting information for wage negotiation

·            The Labour Union

·            General Managers and chief executives of public sector Organizations.

·            Trade unions

·            Salary earners

Public Sector Accounting draws its existence and strength from___

·            Fund accounting

·            Acts of Parliament

·            Taxation, fines, fees etc.

·            Corporate Affairs Commission.

Public sector accounting is an aspect of accounting which covers accounting of___.

·            Private sector

·            UBA PLC

·            Government parastatals

·            Government Micro Finance Bank

Organizations owned, operated and financed by the government are known as the___

·            Private sector

·            Federal government

·            36 states of Nigeria

·            Public sector

One of these is not objectives of Public sector accounting

·            It is controlled by a public sector entity.

·            It is not controlled by a public sector entity.

·            Government accounts must be prepared and audited annually.

·            To ensure that costs are measured with benefits.

The grouping of the transactions into revenue and expense descriptions and bringing them under major classes is__

·            Classifying

·            Analysing

·            Interpreting

·            Communicating

The processes of public sector accounting exclude one of the following

·            Recording

·            Analysing

·            Communicating

·            Collating

The officer who issues financial regulations is_______.

·            Minister of Finance

·            Accountant General of the federation

·          Auditor-General of the federation

·            An Accountant

Government Organizations that are charged with profit-making are called___…

·            Public sector organisations

·            Government Parastatal

·            Government business enterprises

·            Extra-ministerial departments



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