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