Under PFMS, the centralized system module that facilitates direct payment to beneficiaries is called: MCQ with Answer and Explanation
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Question #1
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The 'Emphasis of Matter' paragraph in audit report is used to:
Correct Answer: Option D
Explanation:
Emphasis of Matter does not affect the audit opinion; it highlights significant matters.
Emphasis of Matter does not affect the audit opinion; it highlights significant matters.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #2
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The 'Impersonal Accounts' are further classified into:
Correct Answer: Option B
Explanation:
Impersonal accounts include real (assets) and nominal (expenses/losses, incomes/gains).
Impersonal accounts include real (assets) and nominal (expenses/losses, incomes/gains).
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #3
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Creating a provision for doubtful debts is an application of which accounting convention?
Correct Answer: Option C
Explanation:
Conservatism (Prudence) requires anticipating potential future losses (like bad debts) and providing for them immediately.
Conservatism (Prudence) requires anticipating potential future losses (like bad debts) and providing for them immediately.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
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