Question 1 (Compulsory) You are presented below two separate sets (Set A and Set B) of financial statements of Department of Social Welfare for the year 2019 using different accounting bases. SET A Department of Social Welfare Statement of Receipt and Payment for the year ended 31st December 2019 Notes GHc'000 GHc'000 Receipts Budget allocation 1 12,000 Internally Generated Fund 2 6,000 Donations 3 1,000 19,000 Payments Compensation of employees 4 7,000 Goods and services 5 4,000 Purchase of fixed assets 6 10,000 Other expenditures 7 500 21,500 Deficit (2,500) Notes to the accounts 1. The amount represents the total appropriation released to the Department for the financial year. This constituted 85% of the budget approved for the Department for the period. 2. Internally generated revenues are received from fees and other user charges of the Department. 3. Donation represents amount received in cash from donor support during the year. 4. This represents the total emoluments, allowances and other benefits paid to the employees of the Department. 5. Goods and services consist of amount paid for general administration and provision of public services. 6. Fixed assets bought and paid for during the year 7. Other expenses represent unclassified expenses paid.