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Government Financial Management Responsibilities
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Government Financial Management Responsibilities

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Questions and Answers

What are the categories of budget spending mentioned in the text?

  • Capital Expenditure, Recurrent Expenditure, and Development Expenditure
  • Overhead Cost, Personnel Cost, and Capital Expenditure
  • Statutory Transfer, Debt Service, and MDAs Expenditure (correct)
  • Salaries, Bonuses, and Allowances

    • What is the main purpose of the MDAs Envelopes mentioned in the text?

  • To cover entertainment expenses of government officials
  • To fund personal projects of ministry officials
  • To distribute bonuses to employees
  • To allocate projected revenue to MDAs based on government priorities (correct)

    • Which entity issues financial warrants for personnel cost and overhead cost based on the Appropriation Act?

  • Budget Office of the Federation
  • Federal Ministry of Finance (correct)
  • National Assembly
  • Federal Executive Council

    • What is the purpose of the Economic Reform and Governance Project (ERGP) in Nigeria?

    <p>To improve integrity, transparency, and accountability in government financial transactions</p> Signup and view all the answers

    When does the Budget Office of the Federation consolidate inputs received from MDAs?

    <p>After submission of budget proposals by MDAs</p> Signup and view all the answers

    Which entity approves the proposed Budget in Nigeria?

    <p>Federal Executive Council (FEC)</p> Signup and view all the answers

    'Debt Service' is categorized under which type of budget spending?

    <p>Statutory Transfer</p> Signup and view all the answers

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