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