The authority to incur expenditure in the public sector is-------------

 ''Below the line'' item in public sector accounting means such an item is--------

(a) Mention three disadvantages to a business that does not keep proper accounting records.

(b) Explain the following characteristics of accounting information
i. Relevance
ii. Comparability 
iii. Consistency
iv. Reliability

(c) State two limitations in the use of accounting information for business decision making.

(a) Explain with examples, the following components of cost in a Manufacturing Account:
i. Direct material cost;
ii. Direct labor cost
iii. Factory overhead

(b) Describe the three types of stocks in a manufacturing concern.

(a) Which business organizations have the need to prepare departmental accounts?

(b) State two reasons for preparing departmental accounts.

(c) State how the following incomes and expenses are apportioned in departmental accounts:
i. discount allowed
ii. discount received
iii. rent and rates
iv. staff related costs
v depreciation
vi. canteen expenses
vii. electricity
viii. advertising
ix. bad debts