Which fund is used to meet unforeseen or urgent expenditure
FINANCIAL
JAMB 2017
Which fund is used to meet unforeseen or urgent expenditure
- A. General reserve fund
- B. Consolidated Reserve Fund
- C. contingencies fund
- D. special fund
Correct Answer: C. contingencies fund
Explanation
contingencies fund: if there is an urgent and unforeseen need for expenditure for which no other provision exist, such expenses shall be deducted from the contingencies fund
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