[amp_mcq option1=”Contingency Fund” option2=”Consolidated Fund” option3=”Supplementary Grant” option4=”Public Account” correct=”option1″]
The correct answer is A) Contingency Fund.
A contingency fund is a reserve fund that is set aside by a government or other organization to cover unexpected or additional expenditure that may arise during the financial year. It is a type of reserve fund that is used to cover unexpected or unforeseen expenses. It is a fund that is set aside to cover unexpected or additional expenditure that may arise during the financial year.
The other options are incorrect because:
- A consolidated fund is a fund into which all government revenue is paid and from which all government expenditure is met.
- A supplementary grant is a grant that is made by the government to a particular department or agency to cover additional expenditure that has been incurred over and above the amount that was originally budgeted for.
- A public account is a record of the receipts and expenditure of the government.