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Question 1 a) There is five (5) objectives for financial accounting in public sector accounting. One of the objectives is prepares financial reporting pertaining to
Question 1 a) There is five (5) objectives for financial accounting in public sector accounting. One of the objectives is prepares financial reporting pertaining to the results of operations of various government agencies that are for dissemination to the public. Explain two (2) important of good financial reporting in public sector accounting and two (2) implication if there is no appropriate bookkeeping in the public sector accounting system. (8 marks) b) Based on your thought, discuss whether you agree with the statement that overload of rules and regulations to be followed by government officers will lead to confusion rather than clarity on their job scope and responsibilities. Support with reason. (8 marks)
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