PUB3705 Assignment 1 (ANSWERS) Semester 2 2024 - DISTINCTION GUARANTEED

Well-structured PUB3705 Assignment 1 (ANSWERS) Semester 2 2024 - DISTINCTION GUARANTEED. (DETAILED ANSWERS - DISTINCTION GUARANTEED!).... Fill in the missing word. ‘Free riders’ are individuals who cannot be excluded from a public service on the grounds of ... and who will be unwilling to reveal their preference for such a service. a. citizenship b. legislation c. grants d. non-payment The missing word in the sentence is "legislation." 'Free riders' are individuals who cannot be excluded from a public service on the grounds of legislation and who will be unwilling to reveal their preference for such a service Fill in the missing word. Collective services share the characteristics of public goods and are often …. a. monopolistic. b. unique. c. apportionable. d. exclusive. Collective services share the characteristics of public goods and are often apportionable. This means that the benefits and costs of these services can be distributed among the individuals or groups using them Fill in the missing word. Every person who handles public money is in a position of … a. authority. b. trust. c. control. d. power. Fill in the missing word. Major components of financial systems indicate that we manage finances by deploying policies, standards, processes, people … and information to budget, control, account and report on revenue, cash and funding. a. resources b. technology c. money d. procedures Fill in the missing word. Money serves as a standard of value for measuring the relative worth of different goods and services and is used as a … of value. a. store b. percentage c. currency d. standard Fill in the missing word. Official development assistance (ODA) is a form of development aid comprising flows of official financing from states and development agencies with promoting the economic development and welfare of developing countries as the main objective. The main categories are cash, discounts, … and products as well as loans on favourable terms. a. services b. assets c. standards d. credit Fill in the missing word. The budget is a financial plan which sets out how a government will achieve its … a. mission b. goals. c. objectives. d. vision. Fill in the missing word. The major source of provincial income is the equitable share of revenue raised … to enable provinces to provide basic services and perform the functions allocated to them. a. nationally b. locally c. provincially d. internationally Fill in the missing word. The Medium-Term Expenditure Framework (MTEF) is the … year spending plan of national and provincial governments. a. one b. two c. three d. four Fill in the missing word. The processing of financial data involves three stages, i.e. verifying data, … data for capturing and capturing and processing financial data. a. obtaining b. attaining c. preparing d. receiving Fill in the missing word. The success of a budget is measured in terms of input, output and … a. control. b. auditing. c. efficiency. d. results. Fill in the missing word. Virement is the controlled redirection of …….… funds through a valid saving on one item or programme to another approved item or programme of the same institution. a. appropriated b. approved c. budgeted d. voted Fill in the missing words. The general definition of capital expenditure includes the acquisition of all items with a lifespan exceeding … … a. one year. b. two years. c. three years. d. five years. Select the correct alternative. An example of an internal role-player in budgeting includes one of the following: a. Parliament. b. Executive authority. c. Financial and Fiscal Commissions. d. Medium Term Expenditure Committees. Select the correct alternative. In managing budget execution, finances are managed by deploying policies, standards, processes people, technology and information to budget control, account and report on: a. investments. b. fixed assets c. revenue d. all these options. Select the correct alternative. Management activities required for directing and controlling an entity in identifying and analysing risk, are referred to as: a. strategy b. performance c. customer relationships d. governance Select the correct alternative. One of the phases of the budget cycle includes one of the following: a. planning. b. auditing. c. leading. d. control. Select the correct alternative. Public money belongs to the: a. head of a state. b. People. c. central sphere of government. d. taxpayers. Select the correct alternative. The national expenditure budget has four levels. Which of the following is one of the levels? a. Votes. b. Approval. c. Monitoring. d. Auditing. Select the correct alternative. The national parliament has the following main functions: a. allocating expenditure b. imposing taxes c. regulating public finances d. option 1,2 & 3 Fill in the missing word. Money serves as a standard of value for measuring the relative worth of different goods and services and is used as a … of value. a. store b. percentage c. currency d. standard ATTEMPT 2 1 Fill in the missing word. ‘Free riders’ are individuals who cannot be excluded from a public service on the grounds of .......and who will be unwilling to reveal their preference for such a service. a. citizenship b. legislation c. grants d. non-payment 2 Fill in the missing word. Collective services share the characteristics of public goods and are often ………….…. a. monopolistic. b. unique. c. apportionable. sive. 3. Fill in the missing word. Every person who handles public money is in a position of … a. authority. b. trust. c. control. d. power. 4 Fill in the missing word. Major components of financial systems indicate that we manage finances by deploying policies, standards, processes, people … and information to budget, control, account and report on revenue, cash and funding. a. resources b. technology c. money d. procedures 5 Fill in the missing word. Money serves as a standard of value for measuring the relative worth of different goods and services and is used as a … of value. a. store b. percentage c. currency d. standard 6 Fill in the missing word. Official development assistance (ODA) is a form of development aid comprising flows of official financing from states and development agencies with promoting the economic development and welfare of developing countries as the main objective. The main categories are cash, discounts, … and products as well as loans on favourable terms. a. services b. assets c. standards d. credit 7. Fill in the missing word. The budget is a financial plan which sets out how a government will achieve its … a. mission b. goals. c. objectives. d. vision. 8 Fill in the missing word. The major source of provincial income is the equitable share of revenue raised … to enable provinces to provide basic services and perform the functions allocated to them. a. nationally b. locally c. provincially d. internationally 9. Fill in the missing word. The Medium-Term Expenditure Framework (MTEF) is the … year spending plan of national and provincial governments. a. one b. two c. three d. four 10. Fill in the missing word. The processing of financial data involves three stages, i.e. verifying data, … data for capturing and capturing and processing financial data. a. obtaining b. attaining c. preparing d. receiving 11. Fill in the missing word. The success of a budget is measured in terms of input, output and ……… a. control. b. auditing. c. efficiency. d. results. 12. Fill in the missing word. Virement is the controlled redirection of …….… funds through a valid saving on one item or programme to another approved item or programme of the same institution. a. appropriated b. approved c. budgeted d. voted 13. Fill in the missing words. The general definition of capital expenditure includes the acquisition of all items with a lifespan exceeding … … a. one year. b. two years. c. three years. d. five years. 14. Select the correct alternative. An example of an internal role-player in budgeting includes one of the following: a. Parliament. b. Executive authority. c. Financial and Fiscal Commissions. d. Medium Term Expenditure Committees. 15. Select the correct alternative. In managing budget execution, finances are managed by deploying policies, standards, processes people, technology and information to budget control, account and report on: a. investments. assets c. revenue d. all these options. 16. Select the correct alternative. Management activities required for directing and controlling an entity in identifying and analysing risk, are referred to as: a. strategy b. performance c. customer relationships d. governance 17. Select the correct alternative. One of the phases of the budget cycle includes one of the following: a. planning. b. auditing. c. leading. d. control. 18. Select the correct alternative. Public money belongs to the: a. head of a state. b. People. c. central sphere of government. d. taxpayers. 19. Select the correct alternative. The national expenditure budget has four levels. Which of the following is one of the levels? a. Votes. b. Approval. c. Monitoring. d. Auditing. 20. Select the correct alternative. The national parliament has the following main functions: a. allocating expenditure b. imposing taxes c. regulating public finances d. option 1,2 & 3