Under IPSAS 17, which methods can be used to calculate depreciation Under IPSAS 17, which methods can be used to calculate depreciation? (Select all that apply) A) Straight-line method B) Reducing b

What does "Value for Money" (VfM) in public sector mean What does "Value for Money" (VfM) in public sector mean? (Select all that apply) A) Economy B) Efficiency C) Effectiveness D) Equity Answer

Which of the following are key challenges in public sector budgeting Which of the following are key challenges in public sector budgeting? (Select all that apply) A) Political influence B) Short-ter

What are the key roles of CIPFA What are the key roles of CIPFA? (Select all that apply) A) Setting accounting standards for public sector B) Providing professional qualifications C) Regulating pub

Under IPSAS 9, when should revenue from exchange transactions be recognized Under IPSAS 9, when should revenue from exchange transactions be recognized? (Select all that apply) A) When significant ri

Which of the following are types of reserves in public sector accounting Which of the following are types of reserves in public sector accounting? (Select all that apply) A) Usable reserves B) Non-u

What are the purposes of budget variance analysis What are the purposes of budget variance analysis? (Select all that apply) A) Compare actual vs. budgeted spending B) Identify reasons for variances

What are the key challenges facing public sector financial management What are the key challenges facing public sector financial management? (Select all that apply) A) Volatile funding B) Political

Under IPSAS 3, which of the following require retrospective application Under IPSAS 3, which of the following require retrospective application? (Select all that apply) A) Changes in accounting polic

What does the role of "Stewardship" involve in public sector accounting What does the role of "Stewardship" involve in public sector accounting? (Select all that apply) A) Managing public funds respo

Which of the following are sources of finance for public sector organizations Which of the following are sources of finance for public sector organizations? (Select all that apply) A) Taxation B) Us

Under IPSAS 12, which methods can be used to measure inventories Under IPSAS 12, which methods can be used to measure inventories? (Select all that apply) A) First-in, first-out (FIFO) B) Last-in, f

What are the benefits of Virement in public sector budgeting What are the benefits of Virement in public sector budgeting? (Select all that apply) A) Provides flexibility in budget management B) Hel

Which of the following are characteristics of public sector accounting Which of the following are characteristics of public sector accounting? (Select all that apply) A) Emphasis on stewardship B) F

What are the key functions of a Medium-Term Financial Strategy What are the key functions of a Medium-Term Financial Strategy (MTFS)? (Select all that apply) A) Identify key budgets B) Set assumptio

Which of the following financial statements are required under IPSAS 1 Which of the following financial statements are required under IPSAS 1? (Select all that apply) A) Statement of Financial Positi

Which of the following are key principles of public sector ethics according to CIPFA Which of the following are key principles of public sector ethics according to CIPFA? (Select all that apply) A) I

Which of the following is NOT a key component of public sector financial governance Which of the following is NOT a key component of public sector financial governance? A) Clear lines of accountabili

Under IPSAS 17, how should depreciation be calculated Under IPSAS 17, how should depreciation be calculated? A) Straight-line method only B) Reducing balance method only C) Either straight-line or

What does the term "Value for Money" mean in public sector financial management What does the term "Value for Money" mean in public sector financial management? A) Getting the best possible outcomes

Which of the following is a characteristic of public sector budgeting Which of the following is a characteristic of public sector budgeting? A) Focus on short-term goals B) Emphasis on inputs rather

What is the role of the CIPFA in public sector accounting .What is the role of the CIPFA in public sector accounting? A) Setting accounting standards for public sector organizations B) Regulating pu

Under IPSAS 9, when should revenue from exchange transactions be recognized Under IPSAS 9, when should revenue from exchange transactions be recognized? A) When cash is received B) When the signific

Which of the following is NOT a type of reserve in public sector accounting Which of the following is NOT a type of reserve in public sector accounting? A) Usable reserves B) Non-usable reserves C)

What is the purpose of a budget variance analysis in public sector organizations What is the purpose of a budget variance analysis in public sector organizations? A) To compare actual spending with b