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Define a budget in your own words
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Explain the follwing:
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Where does the Minister of Finance get the money to allocate to the various state departments? List at least four forms of taxation
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What does the government do with the money the collect through tax? List at least four things. (4)
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Study the Budget Management Report(Course Materials) and answer the questions.
Was the income more or less than anticipated for the year? By how much
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Were the expenses over budget or under budget? By how much
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What was the total income for the year
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Give the total amount that was spent on purchases and expenses
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What was the profit after everything was paid
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Look at the income statement in your course materials, and answer the following questions
How much money came into the business as a result of sales
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How much money was spent to purchase raw materials
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How much was spent on various expense items
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What was the net profit before tax
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What was the net profit after tax
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List two benefits of budgeting
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which financial records does a manager use to control income and expenses
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Refer back to the Management Budget Report for the year 2003 and answer the following questions. (4)
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What was the total income for the year?
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What was the difference between the budgeted income and the actual income? |
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How much was spent on purchases for the year? |
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What was the difference between the budgeted expenses and the actual expenses? |
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How should a selling price be worked out
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If your total cost of a case of wine (with twelve bottles) is R120. What is the cost of one bottle of wine
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You have decided to add a mark-up of 100% to the wine. At what price will you sell the wine
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What is meant by compound interest
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Calculate the compound interest on an investment of R678 which is invested for a period of 12 years at 15,6% interest per year
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What does depreciation mean
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What does appreciation mean
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If your money loses value over 12 years, did the value appreciate or depreciate
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If the value of your house increases over 10 years, did the value of the house appreciate or depreciate
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How is productivity measured in business
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List at least two inputs and two outputs that are used to measure productivity. (4)
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The Inputs are: |
The Outputs are: |
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In your own words describe why energy resources should be distributed equitably amongst the people and businesses in South Africa
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How can government ensure equitable distribution of resources to encourage agricultural development
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The laws regarding the selection and governing of national, provincial and local governments are set out in the Constitution. Section 214 of the Act states that the provinces are entitled to an equitable share of the national revenue. this includes a portion of the income tax on individuals collected in the province and a percentage of the value added or sales tax collected within the province
Explain how Section 214 of the Act ensures equitable distribution of resources
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Describe how productivity is measured in government departments
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