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