NATIONAL OPEN UNIVERSITY OF NIGERIA

UNIVERSITY VILLAGE, PLOT 91, CASDASTRAL ZONE, NNAMDI AZIKIWE EXPRESS WAY, JABI, ABUJA.
FACULTY OF MANAGEMENT SCIENCES
NOVEMBER 2018 EXAMINATION

COURSE CODE: BFN 779                                                              CREDIT UNIT: 2

COURSE TITLE: PUBLIC FINANCIAL MANAGEMENT

TIME ALLOWED: 2 HOURS

Instructions:   1. Attempt question number One (1) and any other Two (2) questions.

 2. Question number 1 carries 30 marks, while the other questions carry   20 marks each.

                         3. Present your work in coherent and orderly manner.

QUESTION ONE (COMPULSORY)

(a) Differentiate between fiscal policy and monetary policy.                       (10 MARKS)

(b) Discuss 5 basic objectives of public financial management.                   (20 MARKS)

QUESTION TWO

Explain the behaviour of the forms of direct tax with the aid of appropriate diagram.  (20 MARKS)

QUESTION THREE

(a) Explain the term Government Accounting.                                              (2 MARKS)

(b) Bases for Government Accounting are different and distinct from the characteristics of such type of Accounting. EXPATIATE.  (18 MARKS)

QUESTION FOUR

(a) Explain any 4 basic principles that guide the budgetary process in public sector.

                                                                                                                                    (4 MARKS)

(b) Discuss the purposes of budgeting in the governmental system.              (16 MARKS)

QUESTION FIVE

(a) Explain the essence for establishment of the World Bank.

(b) Discuss various approaches available to the government for reducing the burden of external debt.