Let’s Check

Activity 1.

1. Government Accounting Manual aims to update:

a. standards, policies, guidelines and procedures in accounting for government

funds and property

b. coding structure and accounts, and

c. accounting books, registries, records, reports and financial statements

d. all of the above

2. The basis of accounting in which transactions and events are recognized in the

accounting records and in the financial statements of the periods to which they relate.

a. Cash basis

b. Accrual basis

c. Installment basis

d. Modified basis

3. This refers to a government agency, department or operating field unit:

a. Entity

b. Corporation

c. Partnership

d. Proprietor

4. Accounting which encompasses the processes of analyzing, recording, classifying,

summarizing and communicating all transactions involving the disposition of

government funds and property, and interpreting the results thereof:

a. Commercial accounting

b. Government accounting

c. Philippine standard accounting

 d. Public accounting

5. The financial plan of the government for a given period, usually for a fiscal year,

which shows what its resources are, and how they will be generated and used

a. Fund plan

b. Master plan

c. Government plan

d. Budget

6. Which is not charged with the government accounting responsibility?

a. Commission of audit

b. Department of Budget and Management

c. National Government Agencies

d. Legislative Department

7. What is the role of the Bureau of Treasure in relation to government accounting

responsibility?

a. To receive and keep national funds and manage control disbursements thereof.

b. To design, prepare and approve the accounting system of government

agencies

c. To keep the general accounts of the national government

8. 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?

a. Department of Budget and Management

b. Department of Finance
 c. Bureau of Treasury

d. Commission on Audit

9. 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

and coding structure with the Revised Chart of Accounts?

a. Department of Budget and Management

b. Department of Finance

c. Bureau of Treasury

d. Commission on Audit

10. 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 or the consistency of account

classification and coding standards with the Government 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

11. The Philippines Sector Accounting Standards (PPSAS) shall be applied to the

following except:

a. National Government Agencies

b. Government Business Enterprises

c. Local Government Units

d. Government-Owned and/or Controlled Corporations

12.Its function is to assist the Commission on Audit in formulating and

implementing Philippine Public Sector Accounting Standards.

a. Board of Accountancy

b. Philippine Institute of Certified Public Accountants

c. Public Sector Accounting Standards Boards

d. Philippine Accounting Standards Committee

13. This registry shall be maintained by fund cluster by the Budget Division/Unit of

each government entity to ensure that allotment releases are within the authorized

appropriation.

a. Registry of Allotment and Notice of Allocation.

b. Registry of Appropriations and Allotments

c. Registry of Budget, Utilization and Disbursements

d. Registry of Allotments, Obligation’s and Disbursements

14. This registry shall be maintained by Appropriation Act, by Fund Cluster, by Major

Fund Output or Program/Activity/Project for personnel services.

a. Registry of Allotments, Obligations and Disbursements – Personnel Services

b. Registry of Budget, Utilizations and Disbursements – Personnel Services.

c. Registry of Allotment and Notice of Transfer of Allocations

d. Registry of Revenue and Other Receipts.

15. It refers to an accounting entity for recording expenditures and revenue associated

with a specific activity for which accounting records are maintained and periodic

reports are prepared.

a. Financial accounting and reporting

b. Public sector accounting and reporting

c. Fund cluster accounting

d. Responsibility accounting
16. Organization Codes is one of the key elements of Unified Accounts Codes

Structure (UACS). Which of the following is not one of those reflected by this element?

a. Department

b. Agency

c. Operating Unit

d. Government-Owned and Controlled Corporation

17. It is the fund available for any purpose that Congress may choose to apply and

composed of all receipts or revenues that do not otherwise accrue to other funds.

a. Custodial fund

b. General fund

c. Off-budgetary fund

d. Revolving fund

18. It denotes the responsibility to others than one or more persons have for their

actions and behavior.

a. Preparation

b. Accountability

c. Authorization

d. Execution

19. As specifically provided for in the New Constitution, no money shall be of the

National Treasury EXCEPT in the pursuance of paid out

a. Budget

b. President's executive order

c. Fund

d. Appropriation

20. 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

c. Allotment

d. Fund release

21. The budgetary accounts in government accounting consist of the following:

a. Allotment, obligation, and liquidation.

b. Appropriation, liquidation, and Notice of Cash Allocation

c. Appropriation, allotment, and obligation.

d. Allotment, liquidation, and Notice of Cash Allocation.

22. The basis of accounting in which transactions and events are recognized in the

accounting records and in financial statements of the periods to which they relate

a. Cash basis

b. Accrual basis

c. Installment basis

d. Modified basis

23. Comprise all funds derived from the income of agency of the government and

available for appropriation or expenditure in accordance with law

a. Special fund

b. General fund

c. Petty cash fund

d. Revenue fund

24. A department should post an obligation in the of an equipment in the payable

column of the
 a. RAOD – CO

b. Obligation, Request and Status (ORS)

c. RAOD – MOOE

d. RAOD – PS

25. It is 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

a. Special Allotment Release Order

b. Allotment and Obligation Slip

c. Notice of Cash Allocation

d. Registry of Allotment and Obligation