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