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1-Differentiate between the Consolidated Revenue Account (CRA) and Consolidated Trust Account (CTA). 2-Explain your understanding about fund accounting in public sector. Relate your answer with
1-Differentiate between the Consolidated Revenue Account (CRA) and Consolidated Trust Account (CTA).
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c) Below are some of the budget 2020 proposal presented by Ministry of Finance on 11 October 2019. i. Government allocates RM100 mil to Penang for the development of a cable car at Penang Hill. ii. Digital Service Tax will come into effect on Jan 1. This is expected to affect services like Netflix and Spotify, digital advertising offered by Google, and also digital software and games distribution companies such as Steam. iii. RM210 mil earmarked to accelerate deployment of new digital infrastructure for public buildings such as schools, industrial parks. iv. The government will also allocate RM50 mil for the development of a 100-acre site known as the Kota Perdana Special Border Economic Zone in Bukit Kayu Hitam in Kedah. (Source: The Star Online, 11 Oct 2019) Required: Determine the effect of each budget proposal stated in i-iv above to the relevant consolidated fund account Step by Step Solution
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