GOVERNMENT ACCOUNTING EXAMINATION QUESTIONS
AND CORRECT ANSWER WITH EXPLANATION GRADED
A+ STUDY GUIDE SOUTHERN NEW HAMPSHIRE
UNIVERSITY
1.
Government accounting primarily deals with:
A. Profit maximization
B. Management of public funds
C. Private wealth
D. Stock trading
Answer: B
Rationale: Government accounting focuses on the collection, custody, and use of public funds.
2.
The main objective of government accounting is:
A. Profit making
B. Accountability and transparency
C. Market expansion
D. Wealth accumulation
Answer: B
Rationale: It ensures proper use of public resources.
3.
A vote in government accounting refers to:
A. Election result
B. Approved expenditure item
C. Tax income
D. Loan repayment
Answer: B
Rationale: A vote is an authorized budget allocation.
,4.
Public funds are mainly derived from:
A. Donations only
B. Taxes and revenues
C. Gambling
D. Private savings
Answer: B
Rationale: Government revenue mainly comes from taxes.
5.
The Consolidated Fund contains:
A. Private money
B. All government revenues
C. NGO funds
D. Foreign aid only
Answer: B
Rationale: It holds all public revenues for government use.
6.
Who is the chief accounting officer of government?
A. Auditor General
B. Accountant General
C. President
D. Treasurer
Answer: B
Rationale: The Accountant General oversees public accounts.
7.
Budget is:
A. A law only
B. Financial plan of government
C. Tax policy
, D. Audit report
Answer: B
Rationale: It estimates revenue and expenditure.
8.
A supplementary budget is:
A. Illegal spending
B. Extra budget approval
C. Private funding
D. Audit report
Answer: B
Rationale: It provides additional funding beyond original estimates.
9.
Expenditure is classified into:
A. Personal and public
B. Recurrent and development
C. Local and foreign
D. Fixed and variable
Answer: B
Rationale: Government spending is divided into recurrent and capital.
10.
Recurrent expenditure includes:
A. Salaries
B. Bridges
C. Roads
D. Buildings
Answer: A
Rationale: Salaries are regular expenses.
11.
AND CORRECT ANSWER WITH EXPLANATION GRADED
A+ STUDY GUIDE SOUTHERN NEW HAMPSHIRE
UNIVERSITY
1.
Government accounting primarily deals with:
A. Profit maximization
B. Management of public funds
C. Private wealth
D. Stock trading
Answer: B
Rationale: Government accounting focuses on the collection, custody, and use of public funds.
2.
The main objective of government accounting is:
A. Profit making
B. Accountability and transparency
C. Market expansion
D. Wealth accumulation
Answer: B
Rationale: It ensures proper use of public resources.
3.
A vote in government accounting refers to:
A. Election result
B. Approved expenditure item
C. Tax income
D. Loan repayment
Answer: B
Rationale: A vote is an authorized budget allocation.
,4.
Public funds are mainly derived from:
A. Donations only
B. Taxes and revenues
C. Gambling
D. Private savings
Answer: B
Rationale: Government revenue mainly comes from taxes.
5.
The Consolidated Fund contains:
A. Private money
B. All government revenues
C. NGO funds
D. Foreign aid only
Answer: B
Rationale: It holds all public revenues for government use.
6.
Who is the chief accounting officer of government?
A. Auditor General
B. Accountant General
C. President
D. Treasurer
Answer: B
Rationale: The Accountant General oversees public accounts.
7.
Budget is:
A. A law only
B. Financial plan of government
C. Tax policy
, D. Audit report
Answer: B
Rationale: It estimates revenue and expenditure.
8.
A supplementary budget is:
A. Illegal spending
B. Extra budget approval
C. Private funding
D. Audit report
Answer: B
Rationale: It provides additional funding beyond original estimates.
9.
Expenditure is classified into:
A. Personal and public
B. Recurrent and development
C. Local and foreign
D. Fixed and variable
Answer: B
Rationale: Government spending is divided into recurrent and capital.
10.
Recurrent expenditure includes:
A. Salaries
B. Bridges
C. Roads
D. Buildings
Answer: A
Rationale: Salaries are regular expenses.
11.
