public sector

1- Which of the following is a key difference between government and business?

Governments can only raise revenues through taxation.

Governments provide services to the public.

Governments can borrow more money than most businesses.

2-Which of the following is a non-elected member of government?

Mayor

Chief Administrative Officer

Minister

City Councillor

3-Marine Atlantic Inc. is a federal Crown corporation that operates a ferry service between Nova Scotia and Newfoundland. It charges passengers a fee for each crossing. The corporation receives money from the federal government to fund operating expenses in excess of commercial revenues and to acquire tangible capital assets. Marine Atlantic has classified itself as an other government organization (OGO) rather than as a government business enterprise (GBE). Which of the following facts supports this classification?

Marine Atlantic provides transportation services to private citizens as its principal activity.

Marine Atlantic is a separate legal entity that can sue or be sued.

Marine Atlantic passenger fees do not cover all operating costs.

Marine Atlantic operates a commercial ferry service. 4-Which of the following government financial management objectives involves ensuring that todays decisions do not compromise the future?

		Transparency
		Accountability
		Sustainability
		Value for money

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