NATIONAL OPEN UNIVERSITY OF NIGERIA
14/16 AHMADU BELLO WAY, VICTORIA ISLAND, LAGOS
SCHOOL OF MANAGEMENT SCIENCES
MARCH/APRIL 2014 EXAMINATION
Course code: ACC310 Credit unit: 3
Course title: ELEMENTS OF PUBLIC SECTOR ACCOUNTING
Time allowed: 21/2 hrs
Instructions: 1. Attempt question Number one (1) and any other two (2).
2. Question number 1 is compulsory and carries 30 marks, while the other questions
carry equal marks each
3. Present all your points in coherent and orderly manner
1. Mr. Ajonibode, a revenue collector, in the Magistrate Court of Doly Local Government, submits the following information, for the month ended 30 June, 2008. The money collected is shown under Head 200, with the following Sub-heads: (a) Declaration of age 01 (b) Court fine 04 (c) Court proceeding document 07.
Date Prayer Reasons for payment Amount N
2. 2/6/2008 Mrs. Mariam Gidado Declaration of age 400.00
3. 3/6/2008 Niger Killah Court fine 2000.00
4. 5/6/2008 Mr. Ibrahim Limoh Court fine 8000.00
5. 7/6/2008 Gani Waidi Court proceeding document 800.00
6. 9/6/2008 Beko Ishola Court proceeding document 1200.00
7. 13/6/2008 Mrs. Kudirat Eniola Declaration of age 400.00
8. 21/6/200 8 Yaro Balam Court fine 1500.00
9. 30/6/2008 Mrs. Adio Court proceeding 500.00
Mr. Ajonibode deposited the takings to the Sub Accounting Officer on 29 June, 2008 and was issued with treasury receipt number M 400201. The receipts used by him were N800401 to N800450. The one issued to Mrs. Mariam Gigado was N800417. On the assumption that receipts number N800423 was cancelled.
Write up the revenue collector’s cash book and state how to treat the cancelled receipt.
2. a) Explain briefly debt management by Nigerian Government. (10 marks)
b) List causes of Public debt. (5 marks)
3. a) State the purpose of setting up public Enterprises in Nigeria. (10 marks)
b) State the sources of income of Public Enterprises (5 marks)
4. a) Explain budget and its purpose in the Public sector. (10 marks)
b) Describe budgeting control in the Public Sector (5 marks)
5. a) Discuss Local Government organisational set-up (10 marks)
b) List sources of revenue of Local Government Council in Nigeria (5 marks)
6. a) Explain Auditing by citing different types of Audit in government. (10 marks)
b) State the objectives of Internal Auditing in public sector. (5 marks)
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