NOUN TMA Questions and Answers: BFN852- Public Financial Management
Q1 The functional budget is known as ?????
the master budget
Q2 ????... is a system of planning, budgeting and evaluation that emphasizes the relationship between money budgeted and result expected
Performance Budgeting (PB)
Q3 A public budget has four basic dimensions which excludes one of the following
a social tool
Q4 Budgeting is defined by CIMA as a plan stated in quantitative monetary terms which is prepared and approved prior to a defined period of time usually showing planned income to be generated and or expenditure to be incurred during that period and ???... to attain a given objective
capital to be employed
forecastin g
Q6 The most Capital Budgeting Tool used in the Public Sector is ????.
Cost-Benefit Anal ysis
Q7 One of the following factors does not influence capital budgeting decision in an organization
environmental cha nge
Q8 Capital budgeting is the decision making process by firms to evaluate the purchase of major ??
fixed assets
Q9 The private sector objective is always expressed in financial terms while the principal objective of a public sector enterprise is not only financial objective but also, except
Budget su rplus
Q10 In developing countries, government spending excludes one of the following:
Reimbursements
Q11 One of these is not the reason identified by Adolf Wagner as a reason why a state expenditure increases.
decreasing social services
Q12 One of the following is not a Cannon of Taxation
Q13 VAT was introduced to replace ?????...
sales tax
Q14 Value Added Tax (VAT) was introduced by the federal government in
1994
Q15 One of these is not the basic kind of monetary policy decision that can be made
discretionary control of money supp ly
Q16 Goods that are collectively and indivisibly consumed are called?????.
public goods
Q17 Those who deal in public funds can and should be regularly called to account for their stewardship through???????..
legislative review and audit process
Q18 The public sector financial management is concerned with expenditure and accountability while the business sector is concerned with ????
profit maximisation
Q19 ?????... defines Financial Management as the study of money management.
Ekpung (2001)
Q20 Public financial management is all about government's management and control of its ??
income and expenditure
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