PATRIOT ODUNARO B.J. (08038454008)
INSTRUCTION:
ASSIGNMENT 6, 7 AND 9 TO BE SUBMITTED TO CLASS PRESIDENT ON OR BEFORE THIURSDAY 25TH JULY, 2019 FOR FULL TIME.
ASSIGNMENT 8 WILL BE SUBMITTED LATER AFTER THE LECTURES.
TAKE NOTE!
ASSIGNMENT 6:
(a) If the reserve ratio is 20% and initial deposit
is N50,000, how much money will be
created in the banking system.
(b) Explain
the following concepts:
i. Gross
Domestic Product (GDP) ii. Gross
National Income (GNI)
iii.
Personal Income (PI) iv.
Disposable Income (DI)
v. Net
National Income (NNI).
ASSIGNMENT 7:
The following information relate to Sogbae Economy:
C = 350 + 0.75 Yd
I = N50 Million
G = N150 Million
X = N30 Million
M = 10 + 0.1Y
T = 20 + 0.2Y
Required:
(a) Calculate the National Income.
(b) Calculate
the New National Income if consumption increase to N500 Million, Investment
increased by N150 Million and Government increased to N200,000,000.
...........................................................BEST
OF LUCK!..........................................................
LATER AFTER LECTURES:
ASSIGNMENT 8:
Prepare:
(a) Federation Account
(b) Consolidated Revenue Fund
From the following information for the
month of June 2019:
Inflows:
N’000
Import duties 520,000
Export duties 535,000
Excise duties 50,000
Petroleum profits tax 1,600,000
Companies income tax 355,000
PAYE: deductions from the emolument of
the Armed Forces 115,000
Police personnel 123,000
Residents of Abuja 252,000
Dividend from Federal Government
Investments 236,000
Balance b/f 230,000
Outflows:
Remuneration of Statutory Officers 153,000
Recurrent expenditure 750,000
Transfer to: Development Fund 150,000
Contingency Fund 110,000
Note: The revenue
allocation formula is:
Federal Government 52.68%
State Government 26.72%
Local Government 20.60%
ASSIGNMENT 9:
(a) What are the general sources of revenue of various governments?
(b) Sogbae L.G.A has a population of 10 million
citizens of which 6 million are taxable adults who will pay tax at the rate of
N2,500 per adult. It also has 85,000 market stalls rented to traders at
N165,000 per annum per stall.
There are 45,000 hawkers who will pay entrances fees
to the market on daily basis at the rate of N500 per day. There are 28 days in
a month and 12 months in a year.
Required:
As a student of Management and Business Studies
prepare the revenue budget of the local Government for the year 2018.
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