ACC 225 FOR PRE-HND (PUBLIC SECTOR ACCOUNTING) - ASSIGNMENT

(a)  Define Federation Accounts Allocation Committee (FAAC).

(b)  Efura L.G.A has a population of 20 million citizens of which 16 million are taxable adults who will pay tax at the rate of N2,500 per adult. It also has 75,000 market stalls rented to traders at N175,000 per annum per stall.

There are 35,000 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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