Question: ASSIGNMENT QUESTION ONE Explain in as much detail as possible the differences between public sector accounting system and private sector accounting system. 10 marks QUESTION

ASSIGNMENT

QUESTION ONE

Explain in as much detail as possible the differences between public sector accounting system and private sector accounting system. 10 marks

QUESTION TWO

In as much detail as possible, explain each of the following characteristics of general purpose financial reports: 1. Faithful presentation 2. Comparability 3. Verifiability 4. Relevance 5. Timeliness 25 marks

QUESTION THREE

a) Identify any 8 tax revenue sources for the Zambian government.

b) Identify any 7 non-tax revenue sources for the Zambian government.

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