Benefits – NBC Institute

PSA&F – Nov 2019 – L2 – Q3b – Fiscal Policy and Public Finance

Explains the term "public debt" and discusses three benefits and two demerits of public debt.

Question

The Debt Management Office (DMO) in Nigeria manages the Nation’s public debt.

Required:

Explain the term “Public Debt.”
Discuss THREE benefits and TWO demerits of public debt.

Answer

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Tags: Benefits, Debt Management Office, Demerits, Public Debt, Public Finance
Level: Level 2

Topic: Fiscal Policy and Public Finance
Series: NOV 2019

PSAF – Nov 2021 – L2 – Q4c – Treasury Management in the Public Sector

Discuss the benefits of implementing a Treasury Single Account (TSA).

Question

Discuss the benefits of Treasury Single Accounts (TSA).

Answer

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Tags: Benefits, Financial management, Treasury Single Account
Level: Level 2

Topic: Treasury Management in the Public Sector
Series: NOV 2021

PSAF – Nov 2018 – L2 – Q5 – Fiscal Policy and Public Finance

Discuss the causes of Nigeria’s public debt increase, along with the benefits and adverse effects of public debt.

Question

For some years, the level of Nigeria’s public debt has maintained an upward trend.

Required:
(a) Discuss four major causes for the increase in public debt.
(7 Marks)
(b) Explain three major benefits and two adverse effects of public debt to the country.
(8 Marks)

Answer

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Tags: adverse effects, Benefits, causes of debt, Debt Management, Fiscal Policy, Public Debt
Level: Level 2

Topic: Fiscal Policy and Public Finance
Series: NOV 2018

BMF – May 2018 – L1 – SA – Q4 – The Business Environment

Benefits of engaging in international business.

Question

Which of the following is a benefit derivable through international business?
A. Economies of scale
B. Low profit
C. High cost
D. Short supply of goods and services
E. Insufficient capital accumulation

Answer

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Tags: Benefits, International business
Level: Level 1

Topic: The Business Environment
Series: MAY 2018

MI – May 2021 – L1 – SB – Q6c – Decision-Making Techniques | Information Systems

Enumerates three advantages and two disadvantages of Decision Support Systems (DSS).

Question

Enumerate THREE advantages and TWO disadvantages of DSS.

Answer

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Tags: Benefits, Decision Support Systems, DSS, Limitations
Level: Level 1

Topic: Decision-making techniques, Information Systems
Series: MAY 2021

MI – May 2021 – L1 – SB – Q5d – Information Systems Development and Security

Defines social networking, states two benefits, and outlines two risks associated with it.

Question

Define social networking, stating TWO benefits and TWO risks of social networking.

Answer

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Tags: Benefits, Online Communities, Risks, Social Networking
Level: Level 1

Topic: Information Systems Development and Security
Series: MAY 2021

BMF – Mar July 2020 – L1 – SA – Q4 – Basic Management Functions

Identifying a non-benefit of management by objectives (MBO)

Question

Which of the following is NOT a benefit of management by objectives (MBO)?
A. Ensures team members are clear about their work
B. Helps managers control teams
C. Provides a sense of purpose for individuals
D. Provides for easy implementation without employee resistance
E. Enables employees and managers to discern tasks that contribute to the organisation’s objectives

Answer

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Tags: Benefits, Management by Objectives, Management practices
Level: Level 1

Topic: Basic Management Functions
Series: MAR/JULY 2020

PT – Nov 2023 – L2 – Q3a – Income Tax Liabilities

Computation of chargeable income for a physically challenged employee with various benefits and allowances.

Question

Mr. Antitom (physically challenged) was employed as a Chief Accountant of Nangode Ltd on 1 April 2020 on an annual basic salary of GH¢60,000 x 10,000 – GH¢100,000. He was entitled to the following monthly allowances and benefits:

Allowances & Benefits Monthly Amount (GH¢)
Responsibility Allowance 4,400
Professional Allowance 6,600
House Help Allowance 8,200
Utilities 4,200
Overtime Allowance 6,000
Provision of furnished accommodation by the employer for which he paid 5% of his basic salary.
Provision of vehicle and fuel by the employer for both official and private use.
Bonus payment amounting to 25% of his basic salary.
He contributed 5.5% of his basic salary to the Mandatory Pension Scheme and an additional 10% to a Voluntary Pension Scheme approved by the National Pension Regulatory Authority.
Married with 3 children, 2 in approved Senior High Schools in Ghana, 1 at the University of South Africa.
Earned interest of GH¢4,000 on a savings account with Kilma Bank.
Received a net dividend of GH¢20,480 from an investment with Enoga Securities.
Required:
Compute the chargeable income of Mr. Antitom for the 2022 year of assessment.
(20 marks)

Answer

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Tags: Benefits, chargeable income, Employment Income, Pension Contributions, Taxation of Allowances
Level: Level 2

Topic: Taxation of Employment Income
Series: NOV 2023

AA – July 2023 – L2 – Q5b – Audit and Assurance Evidence, Professional and Ethical Considerations

Explanation of five benefits of documenting audit work.

Question

b) ISA 230: Audit Documentation deals with the auditor’s responsibility to prepare audit documentation for an audit of financial statements.

Required:
State FIVE (5) benefits of documenting audit work. (5 marks)

Answer

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Tags: Audit Documentation, Audit Work, Benefits, ISA 230
Level: Level 2

Topic: Audit and Assurance Evidence, Professional and Ethical Considerations
Series: JULY 2023

AA – Nov 2023 – L2 – Q1c – Planning and Approach for Audit and Assurance Engagements

Explain five benefits of planning an audit as per ISA 300.

Question

ISA 300: Planning an audit of financial statements provides guidance to assist Auditors in planning an audit.

Required:
Explain FIVE (5) benefits of audit planning.
(5 marks)

Answer

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Tags: Audit Planning, Audit strategy, Benefits, ISA 300, Risk Assessment
Level: Level 2

Topic: Planning and Approach for Audit and Assurance Engagements
Series: NOV 2023

PSA&F – Nov 2019 – L2 – Q3b – Fiscal Policy and Public Finance

Explains the term "public debt" and discusses three benefits and two demerits of public debt.

Question

The Debt Management Office (DMO) in Nigeria manages the Nation’s public debt.

Required:

Explain the term “Public Debt.”
Discuss THREE benefits and TWO demerits of public debt.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Benefits, Debt Management Office, Demerits, Public Debt, Public Finance
Level: Level 2

Topic: Fiscal Policy and Public Finance
Series: NOV 2019

PSAF – Nov 2021 – L2 – Q4c – Treasury Management in the Public Sector

Discuss the benefits of implementing a Treasury Single Account (TSA).

Question

Discuss the benefits of Treasury Single Accounts (TSA).

Answer

Find Related Questions by Tags, levels, etc.

Tags: Benefits, Financial management, Treasury Single Account
Level: Level 2

Topic: Treasury Management in the Public Sector
Series: NOV 2021

PSAF – Nov 2018 – L2 – Q5 – Fiscal Policy and Public Finance

Discuss the causes of Nigeria’s public debt increase, along with the benefits and adverse effects of public debt.

Question

For some years, the level of Nigeria’s public debt has maintained an upward trend.

Required:
(a) Discuss four major causes for the increase in public debt.
(7 Marks)
(b) Explain three major benefits and two adverse effects of public debt to the country.
(8 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: adverse effects, Benefits, causes of debt, Debt Management, Fiscal Policy, Public Debt
Level: Level 2

Topic: Fiscal Policy and Public Finance
Series: NOV 2018

BMF – May 2018 – L1 – SA – Q4 – The Business Environment

Benefits of engaging in international business.

Question

Answer

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Tags: Benefits, International business
Level: Level 1

Topic: The Business Environment
Series: MAY 2018

MI – May 2021 – L1 – SB – Q6c – Decision-Making Techniques | Information Systems

Enumerates three advantages and two disadvantages of Decision Support Systems (DSS).

Question

Enumerate THREE advantages and TWO disadvantages of DSS.

Answer

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Tags: Benefits, Decision Support Systems, DSS, Limitations
Level: Level 1

Topic: Decision-making techniques, Information Systems
Series: MAY 2021

MI – May 2021 – L1 – SB – Q5d – Information Systems Development and Security

Defines social networking, states two benefits, and outlines two risks associated with it.

Question

Define social networking, stating TWO benefits and TWO risks of social networking.

Answer

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Tags: Benefits, Online Communities, Risks, Social Networking
Level: Level 1

Topic: Information Systems Development and Security
Series: MAY 2021

BMF – Mar July 2020 – L1 – SA – Q4 – Basic Management Functions

Identifying a non-benefit of management by objectives (MBO)

Question

Answer

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Tags: Benefits, Management by Objectives, Management practices
Level: Level 1

Topic: Basic Management Functions
Series: MAR/JULY 2020

PT – Nov 2023 – L2 – Q3a – Income Tax Liabilities

Computation of chargeable income for a physically challenged employee with various benefits and allowances.

Question

Answer

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Tags: Benefits, chargeable income, Employment Income, Pension Contributions, Taxation of Allowances
Level: Level 2

Topic: Taxation of Employment Income
Series: NOV 2023

AA – July 2023 – L2 – Q5b – Audit and Assurance Evidence, Professional and Ethical Considerations

Explanation of five benefits of documenting audit work.

Question

b) ISA 230: Audit Documentation deals with the auditor’s responsibility to prepare audit documentation for an audit of financial statements.

Required:
State FIVE (5) benefits of documenting audit work. (5 marks)

Answer

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Tags: Audit Documentation, Audit Work, Benefits, ISA 230
Level: Level 2

Topic: Audit and Assurance Evidence, Professional and Ethical Considerations
Series: JULY 2023

AA – Nov 2023 – L2 – Q1c – Planning and Approach for Audit and Assurance Engagements

Explain five benefits of planning an audit as per ISA 300.

Question

ISA 300: Planning an audit of financial statements provides guidance to assist Auditors in planning an audit.

Required:
Explain FIVE (5) benefits of audit planning.
(5 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Audit Planning, Audit strategy, Benefits, ISA 300, Risk Assessment
Level: Level 2

Topic: Planning and Approach for Audit and Assurance Engagements
Series: NOV 2023

Question Tag: Benefits

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PSA&F – Nov 2019 – L2 – Q3b – Fiscal Policy and Public Finance

Explains the term "public debt" and discusses three benefits and two demerits of public debt.

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PSAF – Nov 2021 – L2 – Q4c – Treasury Management in the Public Sector

Discuss the benefits of implementing a Treasury Single Account (TSA).

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PSAF – Nov 2018 – L2 – Q5 – Fiscal Policy and Public Finance

Discuss the causes of Nigeria’s public debt increase, along with the benefits and adverse effects of public debt.

You're reporting an error for "PSAF – Nov 2018 – L2 – Q5 – Fiscal Policy and Public Finance"

BMF – May 2018 – L1 – SA – Q4 – The Business Environment

Benefits of engaging in international business.

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MI – May 2021 – L1 – SB – Q6c – Decision-Making Techniques | Information Systems

Enumerates three advantages and two disadvantages of Decision Support Systems (DSS).

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MI – May 2021 – L1 – SB – Q5d – Information Systems Development and Security

Defines social networking, states two benefits, and outlines two risks associated with it.

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BMF – Mar July 2020 – L1 – SA – Q4 – Basic Management Functions

Identifying a non-benefit of management by objectives (MBO)

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PT – Nov 2023 – L2 – Q3a – Income Tax Liabilities

Computation of chargeable income for a physically challenged employee with various benefits and allowances.

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AA – July 2023 – L2 – Q5b – Audit and Assurance Evidence, Professional and Ethical Considerations

Explanation of five benefits of documenting audit work.

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AA – Nov 2023 – L2 – Q1c – Planning and Approach for Audit and Assurance Engagements

Explain five benefits of planning an audit as per ISA 300.

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PSA&F – Nov 2019 – L2 – Q3b – Fiscal Policy and Public Finance

Explains the term "public debt" and discusses three benefits and two demerits of public debt.

You're reporting an error for "PSA&F – Nov 2019 – L2 – Q3b – Fiscal Policy and Public Finance"

PSAF – Nov 2021 – L2 – Q4c – Treasury Management in the Public Sector

Discuss the benefits of implementing a Treasury Single Account (TSA).

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PSAF – Nov 2018 – L2 – Q5 – Fiscal Policy and Public Finance

Discuss the causes of Nigeria’s public debt increase, along with the benefits and adverse effects of public debt.

You're reporting an error for "PSAF – Nov 2018 – L2 – Q5 – Fiscal Policy and Public Finance"

BMF – May 2018 – L1 – SA – Q4 – The Business Environment

Benefits of engaging in international business.

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MI – May 2021 – L1 – SB – Q6c – Decision-Making Techniques | Information Systems

Enumerates three advantages and two disadvantages of Decision Support Systems (DSS).

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MI – May 2021 – L1 – SB – Q5d – Information Systems Development and Security

Defines social networking, states two benefits, and outlines two risks associated with it.

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BMF – Mar July 2020 – L1 – SA – Q4 – Basic Management Functions

Identifying a non-benefit of management by objectives (MBO)

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PT – Nov 2023 – L2 – Q3a – Income Tax Liabilities

Computation of chargeable income for a physically challenged employee with various benefits and allowances.

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AA – July 2023 – L2 – Q5b – Audit and Assurance Evidence, Professional and Ethical Considerations

Explanation of five benefits of documenting audit work.

You're reporting an error for "AA – July 2023 – L2 – Q5b – Audit and Assurance Evidence, Professional and Ethical Considerations"

AA – Nov 2023 – L2 – Q1c – Planning and Approach for Audit and Assurance Engagements

Explain five benefits of planning an audit as per ISA 300.

You're reporting an error for "AA – Nov 2023 – L2 – Q1c – Planning and Approach for Audit and Assurance Engagements"

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