Post Utme Covenant University 2024 Accounting Question 2

Practice objective / multiple choice question 2 from the 2024 Post Utme Covenant University Accounting examination.

Post Utme Covenant University 2024 Accounting Objective / Multiple Choice
Question 2 POST_UTME_COVENANT_UNIVERSITY • 2024 • ACCOUNTING • objective

A government agency is required to prepare a budget for the upcoming fiscal year. The budget must include a breakdown of all revenues and expenditures. What is the purpose of this budget?

Answer Options

A. To determine the agency's financial position at the end of the fiscal year.
B. To allocate resources to different departments within the agency.
Correct Answer C. To provide a plan for the agency's financial activities for the upcoming fiscal year.
D. To identify areas where the agency can reduce costs.
Correct Answer
C
Correct Option:
To provide a plan for the agency's financial activities for the upcoming fiscal year.

About This Question

This is Post Utme Covenant University 2024 Accounting Question 2. It is one of the objective questions from the 2024 Post Utme Covenant University Accounting examination.

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