The two main categories of government revenue are: a. Income from Public Secior Bodies and Dividends. b.Revenue Receipts and Capital Receipts c. Tax Revenue and Income from loans d. Direct Taxes and Indirect Taxes A "Vote on Account" as stated by Brandy occurs? a. If the budget has not yet been approved by parliament prior to the start of the budget year, and a temporary authorization is made. b. When the Auditor General vote for the approval of a budget that was prepared, and paid by the government according to stipulated regulations and guidelines. c. When the Accountant General vote for the payments of budgeted sums from the government's main bank account to the respective ministries and departments d. When Parliamentarians vote for the approval of the national budget. Which of the following general appropriation rules are incorrect? 1. Transfer between budget items are generally stated in the financial regulations. 2. Budget may not include authorization for forward commitments 3. Any revision to the budget must be passed in parliament 4. Unused appropriations are cancelled at the end of each year, however, there may be exceptions. a. 2 and 4 above b. 2 and 3 above c. 1 and 4 above d. 1 and 2 above IAPAS 1 covers all of the following except; 1. Statement of Financial Position 2. Statement of Cash Flow 3. Budgets 4. Statement of expenses a. Budgets b. Statement of Expenses c. Statement of Financial Position d. Statement of Cash Flow Which of the following statements are correct? 1. In times of recession, government spending may fall due to lack of spending 2. In times of recession, government spending may fall due to tax cuts made to simulate the economy 3. In times of recovery or full employment government revenue increases 4. Government policies, political institutions, the stage of economic and social development, and internal and external macroeconomic conditions has no impact on the amount of revenues collected by a government. a. 1 and 2 above b. 1.2 and 3 only c. All of the Above d. 2 and 4 only Which of the statement is not correct? a. The budget preparation is initiated by the Heads of Departments b. Budget Execution is the job of the executive c. The budget audit is done by the auditor general's office d. The budget approval is done by the legislative