The fund in which all government receipt are paid is?

Assessment: JAMB UTME - Principles of Accounts - 2011 Subject: Financial Accounting

Question 1 Report

The fund in which all government receipt are paid is?
Answer Details
The fund in which all government receipts are paid is called the consolidated revenue fund. This fund is used to finance the operations of the government, including payment of salaries, subsidies, and other expenses. All revenue collected by the government, such as taxes, fees, fines, and proceeds from the sale of assets, are deposited into this fund. The consolidated revenue fund is managed by the government's treasury department and is subject to audit by the country's supreme audit institution.
Read lesson note on Public Sector Accounting (JAMB)
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