Question 1

Sugar Development Corporation (SUDECO) is looking forward for increasing the production of sugar in view of the current shortage of the product in the country. In an attempt to achieve this particular goal, efforts have been made to encourage/invite various companies/organizations (both local and foreign) to invest on sugar production projects.

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REQUIRED: (a) Briefly explain the term “capital expenditure budget”. (b) Identify any three important areas to be considered by the management of a particular organization in order to be satisfied that investment in such a project is worth undertaking (c) Give reasons as ...

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ACCOUNTING FOR PUBLIC SECTOR AND COOPERATIVES, ATEC II, NBAA 1 year 0 Answers 2 views Enlightened

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Question 2

(a) What do you understand by the following public sector terminologies?

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(i) Service potential (ii) Value in use (b) Mention any five (5) sources of revenue for local government authorities.

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ACCOUNTING FOR PUBLIC SECTOR AND COOPERATIVES, ATEC II, NBAA 1 year 0 Answers 1 views Enlightened

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Question 3

(a) All losses discovered shall be reported to the Accounting Officer upon receipt of the report of the loss or shortage. The Accounting Officer shall arrange for an investigation to be carried out. After investigating the loss, the Accounting Officer shall submit a signed report to the Accountant General with a copy to the Permanent Secretary and to the Controller and Auditor General (CAG).

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REQUIRED: Explain the contents of the report prepared by the Accounting Officer on the loss. (b) Section 36 of Public Procurement Act, 2011 provides the functions and powers of the Accounting Officer. REQUIRED: Explain any five (5) responsibilities of the Accounting Officer for the ...

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ACCOUNTING FOR PUBLIC SECTOR AND COOPERATIVES, ATEC II, NBAA 1 year 0 Answers 1 views Enlightened

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Question 4

For each of the following statements, state whether the statement is true or false. Indicate your answer by writing “TRUE” for the correct statement and “FALSE” for the incorrect statement in your answer booklet.

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(i) Disturbance allowance is paid to an officer transferred in the public interest from one station to another (ii) Recurrent Expenditure Account is among the various bank accounts which are normally required under Treasury direction to be operated by each Ministry. (iii) ...

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ACCOUNTING FOR PUBLIC SECTOR AND COOPERATIVES, ATEC II, NBAA 1 year 0 Answers 1 views Enlightened

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Question 5

Given the following items, you are required to pair each item from LIST A with the item from LIST B appropriately. In pairing the items, write the letter from list B against the corresponding Roman number in list A in your answer booklet.

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LIST “A” (i) Accrual basis of accounting (ii) Accounting models (iii) Commitment accounting concept (iv) Warrant holder (v) Supplementary funds LIST “B” A. A basis of accounting under which a transaction and other events are recognized when cash and cash equivalent is received or paid. B. Basic assumptions ...

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ACCOUNTING FOR PUBLIC SECTOR AND COOPERATIVES, ATEC II, NBAA 1 year 0 Answers 0 views Enlightened

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Question 6

Every local authority has a general fund into which:

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A. all revenues that are not specifically allocated by law to a special fund are accounted for B. all general development expenditures are accounted for C. all revenues that are specifically allocated by law to a special fund are accounted for D. all ...

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ACCOUNTING FOR PUBLIC SECTOR AND COOPERATIVES, ATEC II, NBAA 1 year 0 Answers 0 views Enlightened

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Question 7

The Paymaster General of the United Republic of Tanzania also functions as:

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A. the Controller and Auditor General B. the Accountant General C. Regional Administrative Secretary D. the Permanent Secretary to the Ministry of Finance and Planning

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ACCOUNTING FOR PUBLIC SECTOR AND COOPERATIVES, ATEC II, NBAA 1 year 0 Answers 0 views Enlightened

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Question 8

Why should the governmental entities use fund accounting?

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A. Fund accounting is required by law B. Fund accounting is required by GAAP C. Fund accounting promotes control and accountability over restricted resources D. Fund accounting promotes better control over operating activities

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ACCOUNTING FOR PUBLIC SECTOR AND COOPERATIVES, ATEC II, NBAA 1 year 0 Answers 4 views Enlightened

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Question 9

Under the modified accrual basis of accounting, gains or losses on disposal of fixed assets:

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A. are not recognized. B. are recognized when the proceeds (cash) of the sale are received (on the installment basis) C. are recognized only if there is a gain. D. are recognized when the sale occurs, regardless of when the cash is collected.

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ACCOUNTING FOR PUBLIC SECTOR AND COOPERATIVES, ATEC II, NBAA 1 year 0 Answers 0 views Enlightened

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Question 10

Patronage Dividend is a cooperative accounting term for:

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A. Dividend income remaining after deduction of direct and indirect expenses B. Dividend issued to the patrons of a cooperative society. C. An amount of net surplus paid to members according to participation in producing the net surplus. D. Portion of net surplus ...

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ACCOUNTING FOR PUBLIC SECTOR AND COOPERATIVES, ATEC II, NBAA 1 year 0 Answers 0 views Enlightened

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