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