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