Categories: Accounting WAEC

The authority to incur expenditure to address natural disaster is contained in?

A. contingency warrant
B. supplementary general warrant
C. reserved expenditure warrant
D. virement warrant

Correct Answer:

Option A – contingency warrant

Explanation

Contingency warrant gives authority to the accountant general to release fund for urgent and unforeseen events. It is used when virement is not possible and there is an urgent need for the fund, which cannot be postponed.

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