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CSS Financial and Cost Accounting P-1 QUESTION #1202
Question 1
Which financial statement is unique to public sector accounting?
  • Statement of Financial Performance
  • Statement of Cash Flows
  • Appropriation Account✔️
  • Statement of Changes in Equity
Correct Answer Explanation
The Appropriation Account is unique to public sector (government) accounting. It shows how the government's budget has been allocated and spent across various ministries and departments. It accounts for voted grants and actual expenditures, showing the utilization of appropriated funds.