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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.
This lab assignment will correspond to developing a cash flow budget with an operating loan. There is on lab exercise listed below. Additionally, there are two assignment questions
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Time for disclaimer The trustee may disclaim in writing at any time within twelve months of his appointment, or of becoming aware of the property, or such extended period as th
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What is the present value of $500 per year for ten years at 12 percent, assuming a regular, or ordinary annuity?
Dangers of over-reliance on trade credit In effect for the reason that trade credit represents temporary borrowing from suppliers until invoices are paid it becomes an importan
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