11. ------------ is a Journal as well as an account:
33. The process of transferring journal entries to the ledger is known as:
61. The following are the reasons for subsidiary books except:
22. The purpose of the Trading Account is to determine:
54. What is an operating budget in community health?
19. The difference between single column cash book and double column cash book is ------------
32. Which financial statement provides a summary of an organization’s revenues and expenses over a specific period?
26. What is the primary purpose of accounting system in community health?
58. How does budgeting impact decision-making in community health?
30. Which accounting principle states that expenses should be recognized in the same period as the related revenues?
38. The principle of “conservatism” in accounting suggests that:
40. Under the accrual basis of accounting, when is revenue recognised?
63. Accounts are generally classified into:
20. All Assets are recorded on the ------------ side of the Trial Balance:
49. The process of dividing expenses between multiple accounting periods is called:
29. A record of a financial transaction involving the receipt of cash is known as:
24. The following are examples of current assets except:
69. The following are effects of improper budgeting in PHC organisation except:
14. The difference between income and expenses is known as ------------
56. What does the term “cost benefit analysis” refer to in community health budgeting?
7. Government accounting is governed by the:
2. The followings are examples of invisible money except:
60. The value of money can be referred to the:
52. Which of the following is NOT a step in the budgeting process for community health?
48. Which accounting concept dictates that each transaction should be recorded with at least one debit and one credit?
25. In inventory control, ------------ is not a step in effective control procedure:
51. What is the primary goal of budgeting in community health?
43. Which financial statement provides information about the sources and uses of cash during a specific period?
59. In community health budgeting what is the purpose of a “need assessment”?
16. Double entry accounting principle states that, ‘debit the ------------‘
17. ------------ is a system where separate cash book is maintained for small payments
10. ------------ is an accounting concept?
70. The following are books of original entries except:
9. The purpose of the Trial Balance is to:
44. The accounting equation is best represented as:
15. Journal used to record purchases of goods on credit on account is known as ------------
47. When a customer returns a product and received a refund, which account is typically debited?
3. The following are characteristics of a good money except:
35. When a community health organisation receives a grant for a specific programme, which account is typically credited?
65. The acronym “FIFO” represents ------------ in stock management:
28. Which of the following best defines an accounting system in community health?
34. Which of the following is NOT a component of a double entry accounting system:
57. Why is monitoring and evaluation important in community health budgeting?
53. What role does community involvement play in the budgeting process for community health?
1. The full meaning of the acronym ‘GAAP’ in accounting is:
27. Which financial statement provides a snapshot of an organisation’s financial position at a specific point in time:
68. Capital as used in balance sheet simply means:
46. Which of the following is a current asset?
64. The following factors are usually taken into consideration in establishing the stock level except the:
4. Three motives why individuals and firms hold money are:
37. If a company pays its rent for the next six months in advance, which account is debited?
62. The following are the uses of journal proper except:
8. Sales Day Book is used to record ------------ transactions?
21. The following items are found on the left hand side of the Balance sheet except:
5. The following are causes of increase in the supply of money except:
45. The process of allocating the cost of a long term asset over its useful life is known as:
41. Which of the following is a long-term liability?
12. What does ‘Owner’s Equity’ means?
18. There are basically ------------ types of money?
42. Which accounting concept assumes that an organization will continue to operate indefinitely?
39. The difference between total assets and total liabilities is known as:
23. ------------ is the calculation of Net Profit in the Profit and Loss Account:
50. What is budgeting in community health?
36. Which principle requires that financial information should be verifiable and accurate?
6. Ledger is the ------------ book of account:
66. The following are methods adopted in stock taking except:
67. Budgeting allocation of money simply means:
55. What is a capital budget in community health?
13. ------------ is another name for Subsidiary Books?
31. Depreciation is an example of which accounting concept?
