Quennie V.

Centino Accounting for Governance and Non-Profit Organizations

TTH 5:00PM – 6:30PM
BSMA – 3
Assessment: Week 2 – Module 2

Chapter 1 - General Provisions. Basic Standards and Policies

Multiple Choice

1. It is the process of analyzing, recording, classifying. summarizing and a ll transaction

involving the receipt and disposition of government funds and property and interpreting
the results thereon.
a. Government auditing,
b. Government budgeting
c. Government accounting
d. National government
ANSWER: C
2. Which is not charged with the government accounting responsibility?
a. Commission on Audit
b. Department of Budget and Management
c. National Government Agencies
d. Legislative Department
ANSWER:D
3. What is the role of the Bureau of Treasury in relation to government accounting
responsibility?
a. To receive and keep national funds and manage or control disbursements thereof.
b. To design, prepare and approve the accounting systems of government agencies.
c. To keep the general accounts of the national government.
d. To prepare the annual financial report of the national government, its
instrumentalities and government-owned or controlled corporations.
ANSWER:A
4. What is the legal basis of the Commission on Audit in promulgating accounting and
auditing rules and regulations?
a. PD 1445
b. Constitution of the Republic of the Philippines
c. COA Circular No. 2002-003
d. PD 1445 and the Constitution of the Republic of the Philippines
ANSWER:A
5. 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
d. Eight digits
ANSWER:D
6. The books of original entry shall be used to record in time sequence, financial
transactions and information presented in duly certified and approved documents. What
is the basis in recording the financial transactions in the journals?
a. Journal Entry Voucher
b. Journal of Checks Issued
c. Journal and Analysis of Obligations
d. Journal of Bills Rendered
ANSWER:A
7. This is an authorization issued by the Department of Budget and Management
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
c. Notice of Cash Allocation
d. Appropriation
ANSWER:A
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
ANSWER:A
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
classification 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
ANSWER:B
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 for 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.
ANSWER:B
11. The Philippine Public 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
ANSWER:B
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 Board
d. Philippine Accounting Standards Committee
ANSWER:C
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, Obligations and Disbursements
ANSWER:B
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 Allotments and Notice of Transfer of Allocations
d. Registry of Revenue and Other Receipts.
ANSWER:A
15. This form shall be used by the originating offices in the utilization of their approved
budget allocation for off-budgetary and custodial funds SAGF, Internally Generated
Funds.
a. Budget Utilization Request Status
 b. Obligation Request Status
c. Notice of Budget Utilization Request and Status Adjustments
d. Registry of Revenue and Other Receipts -- Internally Generated Funds/Business
Related Funds.
ANSWER:A
16. It refers to an accounting entity for recording expenditures and associated with a specific
activity for which accounting records are m and periodic reports are prepared.
a. Financial accounting and reporting
b. Public sector accounting and reporting
c. Fund cluster accounting
d. Responsibility accounting
ANSWER:C