ACC418 Tma Solutions

ACC418

Question: require information to enable them know the performance of the government and the economy.
Answer: Trade unions

Question: One of these is external user of public sector Accounting information.
Answer: beneficial owners of the public money

Question: All accounting that relates to the collection of tax payers money is known as…..
Answer: public sector accounting

Question: The accounting convention that states that profits should not be anticipated but losses is……
Answer: prudence

Question: The Accountant-General of the federation performs one of the following functions.
Answer: Supervise and control the computerization of the accounting system

Question: The fund systems that are used to account for assets held solely in a custodial capacity are called
Answer: Agency funds

Question: The types of funds in Nigeria exclude one of the following……
Answer: Investment Trust Fund

Question: Public sector accounting systems are organized and operated on ……
Answer: a fund basis

Question: the following are the objectives of Charts of Accounts (COA) except.
Answer: Comprehensiveness

Question: Organizations that are neither owned nor operated by private individuals are called ……
Answer: public sector

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