KPM QUIZ 3

This government agency will prepare

• Federal government financial statments

• Audit report for federal government

• Budget for Federal government

This report is prepared by the

• Accountant General

• Auditor General

• Minister of MOF

The basis of accounting used to account for Federal Government accounts is

• Modified Cash Basis and Cash Basis

• Modified Cash Basis and Accrual Basis

• Accrual Basis and Cash Basis

Malaysian Public Sector Accounting Standards (MPSAS) is used for

• Accrual Basis

• Cash Basis

• Modified Cash Basis

The following is the disadvantage of using cash basis except

• The time spent in accounts preparation will not be significantly shorter

• Helps better in determining cashflow

• Facilitates better planning, financial management and decision making in longer term

Accrual Basis will show

• only cash inflow and outflow

• only assets and liabilities

• only revenues and expenses

• all assets, liabilities, revenues and assets

Revenue and Expenditure is recognized on the date when INVOICE has been send and received. This describe

• Cash Basis

• Accrual Basis

• Modified Cash Basis

Based on the picture, choose the correct answer.

• Audited by the Auditor General before being tabled in Parliament according to the requirements of Section 16[2] of the Financial Procedure Act, 1957 [Act 61].

• Audited by the Accountant General before being tabled in Parliament according to the requirements of Section 16[2] of the Financial Procedure Act, 1957 [Act 61].

• Audited by the Auditor General after being tabled in Parliament according to the requirements of Section 16[2] of the Financial Procedure Act, 1957 [Act 61].

Payment made until January next year. This statement best describe

• Cash Basis

• Modified Cash Basis

• Accrual Basis

The Chief Accountant for the Federal Government and the Head of Federal Treasury Accounts Division is in

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