In government accounting , the method used which records ...
In government accounting , the method used which records on the basis of financial entity with self balancing books instead of entity of propietorship is?
Virement
Fund accounting
Consolidated fund
Financial regulation
Correct answer is B
Fund accounting is an accounting system for recording resources whose use has been limited by the donor, grant authority, governing agency, or other individuals or organisations or by law. It emphasizes accountability rather than profitability, and is used by Nonprofit organizations and by governments. In this method, a fund consists of a self-balancing set of accounts and each are reported as either unrestricted, temporarily restricted or permanently restricted based on the provider-imposed restrictions.
Which of the following is used to update the cash book in bank reconciliation? ...
Use the following information to answer the question \(\begin{array}{c|c} \text{Unpresented che...
An ordinary share of N80 was issued at N96. The share was issued at? ...
Why are adjustments in the profit and loss account necessary? ...
A partner's drawing is debited to ...
Goodwill appears in the books of a business only if it has been ...
\(\begin{array}{c|c} & \text{N} \\ \hline \text{Debtors opening} & 4000 \\ \hline \text{Debt...