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Question:
(a) ‘Public accounting is often called fund accounting'.
Describe what you understand by the term ‘fund accounting'.
(b) "What's the difference between national defence and pizza?", asked your public finance professor.
Required:
(i) Distinguish between a public good and a private good.
(ii) Describe your understanding of the ‘market failure' phenomenon.
(iii) What is the free-rider problem?
(c) Public accounting is said to "mirror" the budget. Explain.
(d) The role of the Public Expenditure Management System (PEMS) is to allocate and use resources responsively, efficiently and effectively'.
Briefly describe the above statement with particular emphasis on the highlighted terms. Your may illustrate your answer with examples.
Compute the present value of Rs. 1000 receivable 6 years thus if the discount rate is 10 percent. Solution: The present value is computed as follows: PV kn = FV n . PVIF k,n
Before nominations for a board position should the annual report be available
What are some examples of co branded foods? is cool ranch doritos one?
Illustration of Bankruptcy Njuguna Mwandawiro, carrying on a business as a trader in Likoni, Mombasa, finds himself insolvent, and on 15 August 1997 files his petition in bankr
SECURED CREDITORS A secured creditor may: Rely on his security and not prove at all. Surrender his security and prove for the full amount of the debt. Realise his s
Question 1: (a) "MTEF is about resource control, resource allocation and resource utilization." You are required to identify and discuss the different stages of MTEF. (N
Ocean Atlantic Co. is a merchandising business. the account balances for Ocean Atlantic co. as of July 1, 2012 (unless otherwise indicated), are as follows: 110 Cash 63,600 1
Concept of Financial statements Financial statements portray the financial effect of transactions and events by grouping them into classes broadly called elements. A complete
what is the profitability of
RECOMENDATION REGARDING THE CURRENT SOUTH AFRICAN VAT SYSTEM
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