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