Muttipte Choice 1. It is the process of analyzing, recording, classifying, summarizing and communicating all transactions involving the receipt and dispostion of govemment funds and property and interpreting the results thereof. a. Government auditing, b. Government budgeting ‘e, Government accounting d. National government 2. Which is not charged with the government accounting responsibility? a Commission on Audit b. Department of Budget and Management <. National Government Agencies Legislative Department 3. What is the role of the Bureau of Treasury in relation to government accounting responsibility? ; To receive and keep national funds and manage or centrol disbursements thereof, b. To design, prepare and approve the accounting systems of government agencies. ©. To keep the general accounts of the national government d To prepare the annual financial report of the national governmert, its instrumentalities and government-owned or controlled corporations. 4. What is the legal basis of the Commission on Audit in prescribing the New Govemment Accounting System manual? a. PD 1445 %b, Constitution of the Republic of the Philippines a ¢. COA Circular No. 2002-903 a. PD'1449 and the Constitution of the Republic of the Philippines 5. The goks of accounts are composed of the following: ‘a, Regular Agency books and National Government books. b. National Government books and books of original entry. ‘| Journals and general/subsidiary ledgers. d. Regular Agency books and books of original entry. a esa? The following are the systems followed in the New Government Accounting System, EXCEPT a. Commercial accounting b. Double-entrv bookkeeping ec. Responsibility accounting ‘4 Fund accounting ” What is the basis of accounting under the international point of view of current Government Accounting System? ‘a. Accrual and Cash basis b. Cash basis c. Accrual basis d. Strict Accrual According to COA Cir. No, 2013-002 dated January 30, 2013, the New Government Accounting System, effective January 1, 2014, uses a standard chart of accounts with a. Three digits b. Four digits c. Five digits Eight digits The New Government Accounting System must be comprehensive but flexible to ensure that the need of the users of information can be addressed in a way that these will be understood even by those, who have no technical knowledge of accountancy. These users include all EXCEPT a. Public managers b. Officials and employees of the agency c. Taxpayers 4 None of the above ‘s 10.The following are the objectives of the NGAS, which is NOT a. Simplify government accounting. b. Conform to International Accounting Standards. ‘ec. Comply with the requirements of International Monetary Board. d. Generate periodic and relevant financial reports for better monitoring or performance,11. Special purpose fund is a fund appropriated for purposes other than those provided in the regular funds of government agencies. Which of the followirig is a special purpose fund? “a Organizational adjustment fund b, Reimbursable fund c. Sinking fund d. General fund 12. Journals and ledgers are the books of accounts of the national government agencies. Which of the following journals shall be used under the new government accounting system? a. Journal of checks issued b. Journal and analysis of obligations ¢. Journal of bills rendered ‘dW. General Journal 13. The books of original entry shall be used to record, in time sequence, financial transactions and information presented in duly certified and approved accounting documents. What is the basis in recording the financial transactions in the journals? & Journal Entry Voucher b. Journal of Checks Issued c. Journal and Analysis of Obligations d. Journal of Bills Rendered 14. Regular Ageney (RA) books sha!! be used to record the receipt and utilization of Notice of Cash Allocation and other income/receipts, which the agencies are authorized to use and to deposit with Authorized Government Depository Bank and the naticnal treasury. Which of the following is NOT a Regular Agency book? a, General Journal b. General Ledger Cash Joumal d. Cash Disbursements Journal t 15, This is an authorization issued by the Department of Budget and Management to government agencies to withdraw cash from the National Treasury through the issuance of Modified Disbursement System checks or other authorized made of disbursements.a. Allotment b. MDS Checks ‘e, Notice of Cash Allocation d. Appropriation 16. Under the NGAS, serviceable assets no longer being used shall be reclassified as: a. Depreciated assets b, Obsolete Property Sy ‘Other Assets d. Property, plant and equipment 17. Under the NGAS, the Bureau of Treasury shall maintain the registry for control a monitoring of NCA released by DBM, this Registry is: Registry of Appropriations and allotments “4 Registry of special purpose fund appropriation c. Registry of allotments and Notice of Cash Allocation ‘a. Registry of Notice of Cash Allocation and Replenishment 18. The Department of Budget and Management, Department of Finance, Bureau of Treasury, and Commission on Audit are collectively responsible for the Unified Accounts Code Structure (UACS). Who is responsible for the validation and assignment of new codes for funding source, organization, sub-object codes for expenditure items? Department of Budget and Management b. Department of Finance c. Bureau of Treasury d. Commission on Audit 19. The Department of Budget and Management, Department of Finance, Bureau of Treasury, and Commission on Audit are collectively responsible for the Unified Aceounts Code Structure (UACS), Who is responsible for the consistency of account classification and coding structure with the Revised Chart of Accounts? a. Department of Budget and Management b. Department of Finance 2, Bureau of Treasury “d. Commission on Audit 20. The Department of Budget and Management, Department of Finance. Bureau of Treasury, and Commission on Audit are collectively responsible for the Unified Accounts Code Structure (UACS). Who is responsible for the consistency ofaccount classification and coding standards with the Govemment Finance Statistics? a, Department of Budget and Management “b. Department of Finance - Bureau of Treasury c. Commission on Audit d. All of them are responsible. 21. The Philppine Public Sector Accounting Standards (PPSAS)shall be applied to the following, except: a. National Government Agencies Gcvernment Business Enterprises ec. Lozal Government Units d. Gevernment-Owned and/or Controlled CorporationsMuttipie Choice 1, It is the system of prescribimg the procedures for recording appropriations, allotments and obligations. a, Fund accounting : “b. Budgetary accounting c. Obligation accounting d. Government accounting 2. Its main concer is the availability and use of funds for public services. a. Commission on Audit b. Department of Finance c. Bureau of Treasury National Budgetary System © 3. It isa statement of estimated receipts and estimated expenses of the government, which serves as basis for a General Appropriation Act. a. Statement of financial position b, Statement of operations "ve, National government budget d. Local government budget 4. Which department prepares the national budget, which serves as the basis of the General Appropriation Act? a Executive Department b. Legislative Department c. Judiciary Department d. National Government Agencies/units 5. It is the legislative consideration, review and approval of the national budget. a. Preparation ‘b, Authorization ¢.” Execution d. Accountability 6. a. b. It is the implementation of the national budget by different departments and release of allotments. Budget preparation Budget authorization“es. Budget execution d. Budget accountability 7. It denotes the responsibility to others that one or more persons have for their actions and behavior, a. Preparation Accountability c. Authorization d. Execution 8. As specifically provided for in the New Constitution, no money shall be paid out of the National Treasury EXCEPT in the pursuance of a. Budget b. President's executive order c. Fund MW Appropriation 9. It is the legislative authorization to make payments out of government funds under specified conditions and specific purposes. ‘x Appropriation b. Allotment A ¢, Obligation d. Budgeting 10. It is the authorization from the Department of Budget and Management to an agency to incur obligation up to a specified amount that must be within the legislative appropriation. a. Obligation b. Appropriation ‘. Allotment d. Fund release IL. It is the amount committed to be paid by the government arising from an act of a duly authorized administrative officer and which binds the government to the immediate and eventual payment of money, ‘a. Obligation b. Appropriation c, Allotment d. Commitment12. Itis the functions and activities necessary for the performance of a major purpose for which a government entity is established. b c. d. Program Project Resources Internal contro! 13. The journal entry to be made in the books of government agencies‘units upon receipt of Notice of Cash Allocation is a b. 2 p Cash — MDS, Regular Subsidy from National Govemment Cash in Bank — Local Currency, Current Account Subsidy from National Government Cash in Bank ~ Local Currency, Savings Account Subsidy from National Government Cash in Bank —Local Currency, Time Deposit Subsidy from National Government 14, Te control the allotments and obligations of the four classes of allotments, the following registries shall be maintained by government agencies/units oe & d. RAOCO, RAOPS, RAOMO, and RAOFE. RAOCO, RAOPS, RAOMO, and RANCA. RAOCO, RAOPS, RAOMO, and RPI RAOCO, RAOPS, RAOFE, and RPI 15. tis the formal document issued by the Department of Budget and Management to the head of the agency containing the authorization, conditions and amount of allocation. b. ce d. Special Allotment Release Order Allotment and Obligation Slip Notice of Cash Allocation Registry of Allotment and Obligation 16. In government accounting, which of the following is a Personnel service? b. t Telephone charge Rent Meal allowance for overtime work Salaries and wagesIn government accounting, which of the following is.a capital outlay? a. Salaries and wages b. Repairs and maintenance a. Land improvement d. Merchandise inyentory . It is the annual documents required at the onset of the budget execution phase, which contain the agencies’ targets and plans for the current year. & Agency Budget Matrix (ABM) Annual Cash Program (ACP) Budget Execution Documents (BEDs) Budget Accountability Report (BARS) aw o By It is a budget execution document that serves as an overall plan of the government agency encompassing the targeted outputs and estimated obligations broken down by quarter. Physical and Financial Plan (PFP) Monthly Cash Program (MCP) Estimate of Monthly Income List not yet due and demandable obligations Re . It is a component of Budget Accountability Reports (BARs) that should be reported on monthly basis. a. Monthly Cash Program b, List not yet due and demandable obligations c. Estimate of monthly income Statement of allotments, obligations and balances . It is'a disbursement authority representing Modified Disbursement Checks issued and direct payments to external creditors per validated advice to debit account in the list of due and demandable accounts payable. a. Tax Remittance Advice (TRA) “pb. Notice of Cash Allocation (NCA) c. Non-Cash Availment Authority (NCAA) d. Cash disbursement Ceiling (CDC)22. Government agencies are required to submit to the Department of Budget and ‘Management their plans, programs and targets for the year using the Budget Execution Documents (BEDs)on or before a January 1 b. January 31 ‘a, April 15 d= December 31 23. Inorder to provide agencies with sufficient time to implement projects/sctivities covered by realignment, request for realignment of released allotments under the prior year budget shall be requested until a January | of the current year b. April 1 of the current year Nq__ June 30 of the current year d” December 31 of the current year 24. Effective January 2009, the following. modifications in the Notice of Cash Allocation (NCA) release shall be adopted, EXCEPT a. Notice of Cash Allocations to cover regular requirements of agencies shall be comprehensively released with a breakdown of the menthly NCA requirements by operating unit. b. Additional NCAs shall be released corresponding to the SAROs to be issued to the operating units on the basis of the separate Monthly Cash Program submitted by the operating units. *«, All NCAs programmed and credited for the month whether part of the comprehensive release or constituting the additional NCA release, shall, be valid only until the lest working day of the fiscal year. d. Any unutilized NCA corresponding to the book balance, met of ‘outstanding checks, shall automatically lapse at the end of that moath. 25. All Special Allotment Release Orders (SAROs) issued chargeable against General Appropriation Act (GAA) of a Fiscal Year (FY) as re-enacted shall be valid for obligation while the aew GAA is not yet in effect. What is the effective date of the new GAA? a. Immediately after the approval by Congress. b., Immediately after the approval by the President of the Philippines.Pe ee c, Fifteen days after the approval by Congress. “A, Fifteen days after the approval by the President of the Philippines. 26. A budget, the basis of which are the objects of expenditure. a. Annual budget b. Special budget Line-item budget d. Supplemental budget 27. A budget of special nature and generally submitted in special forms on account that itemizations are not adequately provided in the Appropriations Act or that the amount are not at all included in the Appropriations Act a. Annual budget “b, Special budget c. Line-item budget d. Supplemental budget 28. This document outlines the priority areas of government activity applicable to the budget year. a. Budget Message b. Budget Proposal Se, Budget Call d. Budget Calendar 29. In government accounting, which of the following is Maintenance and Other Operating Expenses (MOOE): a. Night Shift Differential “t, Janitorial Services c¢, Honorarium d. Salaries and wages