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