Which one of the following statements is NOT correct?
A. Government accounts are prepared on cash basis
B. The transactions in Government Accounts represent the actual cash receipts and disbursements during a financial year
C. Government Accounts are required to reflect amounts due to, or by the, Government during a financial year
D. All foreign currency transactions are brought into the account after conversion into Indian Rupees
Answer:C
Which one of the following statements is NOT correct?
A. Government accounts are prepared on cash basis B. The transactions in Government Accounts represent the actual cash receipts and disbursements during a financial year C. Government Accounts are required to reflect amounts due to, or by the, Government during a financial year D. All foreign currency transactions are brought into the account after conversion into Indian Rupees