PREMIUM
🎯 PPSC Deputy Accountant Premium Preparation
30 Mock Tests (100 MCQs Each) + 3,000+ Past Paper MCQs
βœ… Detailed Explanations β€’ πŸ’‘ One-Liner Memory Hacks β€’ πŸ“š Previous Papers
WhatsApp Now β†’

What is the name of the fund formed by all revenues received by the Federal Government, all loans raised by that Government, and all moneys received by it in repayment of any loan?

A. Public Account of the Federation
B. Federal Consolidated Fund
C. Annual Budget Statement
D. National Assembly Fund
Correct Answer: B. Federal Consolidated Fund

The fund formed by all revenues received by the Federal Government, all loans raised by that Government, and all moneys received by it in repayment of any loan is known as the Federal Consolidated Fund. This is the principal government account where all major financial inflows are deposited.

  • Option A is false because the Public Account of the Federation holds other public moneys, such as provident funds and trust moneys, which are not part of the main government revenues or loans.

  • Option C is false as the Annual Budget Statement is a document presented to Parliament outlining the government's financial plans, not a fund itself.

  • Option D is false because the National Assembly Fund is a specific fund for the expenses of the National Assembly, not the comprehensive fund for all federal government finances.

Leave a Comment

Join Our WhatsApp Channel ×
Scroll to Top