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NATIONAL OPEN UNIVERSITY OF NIGERIA
UNIVERSITY VILLAGE, PLOT 91, CASDASTRAL ZONE, NNAMDI AZIKIWE EXPRESS WAY, JABI, ABUJA.
FACULTY OF MANAGEMENT SCIENCES
JANUARY 2021 EXAMINATION
COURSE CODE: BFN 411
CREDIT UNIT: 3
COURSE TITLE: PUBLIC FINANCIAL MANAGEMENT
TIME ALLOWED: 2 ½ HOURS
Instructions: 1. Attempt question number one (1) and any other three (3).
2. Question number 1 is compulsory and carries 25 marks while the other 3 questions carry 15 marks each. All points should be presented in coherent and orderly manner.
QN 1. (A) Evaluate the term “Fiscal Federalism”, and give two examples of countries that operate fiscal federalism. 5 Marks
(B) When was the National Revenue Mobilization Allocation and Fiscal Commission (NRMAFC) established and what were the reasons for its establishment? 10 Marks
(C) Outline five principles of revenue sharing contained in the Nigeria’s 1999 constitution as amended. 10 Marks
Total 25 Marks
QN 2. (A) Identify and explain two (2) aims of Public Financial Management. 6 Marks
(B) Analyse three (3) scopes of government responsibilities that requires Public Financial Management. 9 Marks
Total 15 Marks
QN 3. To what extent can the objectives of the monetary policy be used to promote economic growth in Nigeria? 15 Marks
QN 4. Identify and explain three (3) objectives of government accounts. 9 Marks
Discuss two (2) bases of government accounting. 6 Marks
QN 5 Why does the Nigerian government depend more on revenue from oil and gas as a means for financing government expenditure instead of revenue from tax? 15 Marks
