5 Questions
Where should all revenues accruing to the NGAs be deposited or remitted?
In the National Treasury (NT)
What are the fundamental principles for revenue according to the text?
All revenue must be remitted to the treasury
Which accounting standards are applicable to accounting for revenue and other receipts?
PPSAS 9-Revenue from Exchange Transactions and PPSAS 23-Revenue from Non-exchange Transactions
What does AGDB stand for according to the text?
Authorized Government Depository Bank
Where should revenue be deposited if not specifically provided by law, orders, or regulations?
In any duly authorized government depository
Test your knowledge on income/collections and deposits system in accounting. This quiz covers the standards, policies, guidelines, and procedures related to revenue and other receipts, including collections through authorized agent banks and deposits with the AGDB. Perfect for those studying PPSAS 9-Revenue from Exchange Transactions and PPSAS 23-Revenue from Non-exchange Transactions.
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