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National Open University Exam Past Question – EDA 834 MAY/JUNE 2012 EXAMINATION

NATIONAL OPEN UNIVERSITY OF NIGERIA EDA 834 Budgeting and Financial Management in Education

14-16 AHMADU BELLO WAY, VICTORIA ISLAND LAGOS SCHOOL OF EDUCATION

MAY/JUNE 2012 EXAMINATION

 

 

EDA 834: Budgeting and Financial Management in Education

Time Allowed: 2 Hours

 

INSTRUCTIONS: Answer Three Questions only

  1. 1. Distinguish with illustrative examples between the following pairs of terms : (a) Education Finance and Financial Management

(b) Finance and Funds

(c) Recurrent and Capital Expenditure

(d) Internal and External Auditing

(e) Authority to incur expenditure and Imprest

 

  1. 2. (a) Define and Explain

(i) a budget

(ii) Budget preparation

(b) Why is a budget important?

(c) Describe what a budget process involves.

 

3.(a) What do you understand by the following terms? (i) Local purchase order (LPO)

 

(ii) Journals

(iii) Forecasting

(b) Identify and Explain

 

(i) The levels of educational expenditure

(ii) The functions of educational expenditure

 

(4) Discuss the role of each of the following in the funding of education in        Nigeria. (i)  State Ministries of Education

(ii) Parents

(iii) Local Communities

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