Which project appraisal technique involves, listing cash outflows and inflows and then identifying the point in time when the cumulative total of inflows equals the total outflow.

Question $19$Answer

A$.$

Accounting Rate of Return

B$.$

Net Present Value

C$.$

Internal Rate of Return

D$.$

Payback Method

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Question $21$

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This is the basis of accounting where transactions are recognized in the accounting period where the transaction occurred, regardless of when any related payments are made or received.

Question $21$Answer

A$.$

Expense accounting

B$.$

Cash basis of accounting

C$.$

Hybrid basis of accounting

D$.$

Accrual basis of accounting

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Question $22$

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The guidelines for preparing Cashflow Statements by public entities as required by the International Public Sector Accounting Standards Board can be found in:

Question $22$Answer

A$.$

IPSAS $17$

B$.$

IPSAS $1$

C$.$

IPSAS $12$

D$.$

IPSAS $2$

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Question $23$

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All of the following are effective debt management strategies except:

Question $23$Answer

A$.$

Tax cuts

B$.$

Re$-$structuring or refinancing debts, as appropriate

C$.$

Monitoring outstanding debt

D$.$

Budgeting for and making debt service payments

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Question $24$

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Which of the following is a disadvantage of a public private partnership?

Question $24$Answer

A$.$

Risks from public entities, such as financing and long$-$term operations, are often transferred to the private sector.

B$.$

PPPs are funded primarily by private investment

C$.$

Profits of the projects can vary depending on the assumed risk, the level of competition, and the complexity and scope of the project

D$.$

Benefits from innovation and faster access to markets

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Question $25$

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According to the Financial Administration and Audit Act of Jamaica, in the case of financial misconduct, surcharge can applied on the following basis except:

Question $25$Answer

A$.$

Surcharge imposed, shall not exceed the sum total of the deficiency or loss suffered by Government.

B$.$

Where the deficiency or loss is caused by more than one officer, the surcharge must be equally applied to all liable officers involved.

C$.$

The Financial Secretary has the authority to impose surcharge

D$.$

Surcharge is applicable if there is a failure to collect revenue and if improper payments were made by the public officer.