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Government Accounting Manuals
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Government Accounting Manuals

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Questions and Answers

What does this Manual cover in relation to self accounting entities?

  • Accounting transactions and recording
  • Framework for financial responsibilities
  • Roles and accountability
  • Principles, policies, and procedures (correct)
  • Which entities are excluded from the accounting principles outlined in this Manual?

  • Self accounting entities
  • Federal and Provincial Governments
  • Exempt entities (correct)
  • Centralized accounting entities
  • What does this Manual outline for centralized accounting entities?

  • Framework for financial responsibilities
  • Accounting transactions and recording
  • Roles and accountability
  • Principles, policies, and procedures (correct)
  • Where are the detailed accounting policies and procedures contained?

    <p>In the individual rules and regulations for self accounting entities</p> Signup and view all the answers

    What are the objectives essential in the establishment of proper internal control?

    <p>All of the above</p> Signup and view all the answers

    Which officer is responsible for ensuring that a proper system of internal control exists within the entity?

    <p>Both the Principal Accounting Officer and the Internal Audit Officer</p> Signup and view all the answers

    What does the term 'internal control system' refer to?

    <p>The policies and procedures adopted by the entity to assist in achieving financial management and accountability objectives of the Government</p> Signup and view all the answers

    What is contained in the Accounting Policies and Procedures Manual?

    <p>The detailed application of mandatory internal control procedures</p> Signup and view all the answers

    What is the purpose of internal control procedures?

    <p>All of the above</p> Signup and view all the answers

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