Professional Documents
Culture Documents
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Everything that a government actually spends money
Expenditures
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The main component of public finance related to collecting
Revenue
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International institution that provides loans and grants to the government
World Bank
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It aims at reducing the inequalities through redistribution of income and wealth
Distribution Function
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Study of finance related to government entities.
Public Finance
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A plan of the what the government intends to have as expenditures for the whole year
Budget
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Fill up the gap when public expenditures exceeds public income
Public debt
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This includes the preparation, passing and implementation of government budget and
various government policies.
Financial Administration
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Roads are examples of
Public goods
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If the government spends more than it collects, then there is
Deficit
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It aims at eliminating the business fluctuations and its impact on the economy
Stabilization function
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Sales tax and income tax are examples of
Progressive Tax
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Duties and taxes on imported goods
Tariff
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Goods that purchased by the high income group with higher taxes on
Luxury goods
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Income derived from lending money
Interest income
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Question 1
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BIR belongs to the cabinet of the office of the President
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Question 2
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The actual growth rate in 2018 is greater than 2020 projection
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Bureau of Treasury is under Department of Finance
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Social Services got the highest share in 2020 budget
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Under National Health Insurance there are premiums to be shouldered by the government
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Question 6
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Population in the elementary enrolees is greater than the population enrolees in the
secondary level
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Question 7
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Build, build , build program was under Department of Health
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Question 8
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For 2021, Philippines is aiming for 11.5 growth rate
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Question 9
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Proposed Budget for 2020 is PhP 4.100 B
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Question 10
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In the 2020 budget, government allotted billions and billions of pesos for corona
virus pandemic
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Question 11
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For 2020 budget, the treasury bill rate that we used is 5% to 6%.
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Question 12
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Dubai crude oil is not included in the macroeconomic assumption in making budget.
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Question 13
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The investment requirements in terms of pesos in 2020 is greater than 2021
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Question 14
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We are using Dinar foreign exchange rate in the preparation of annual budget.
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Question 15
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No budget was allotted for Bangsamoro Autonomous Region because they have their own
form of government.
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Question 1
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Total borrowings from abroad to finance the FY 2020 national budget
PHP 353.2 B
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The Department of Public Works and Highway got the second biggest amount
of budget for the year 2020.
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Budget Commission
Former name of DBM Answer
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Reducing corporate income tax rate is included in the second package of Comprehensive
Tax Reform
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Asia region is also expected to grow by 4.7%
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GDP target for the year 2020 is 4.9%.
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Question 7
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Macroeconomic assumptions are important in the preparation of national budget.
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Question 8
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Build, build , build program is under DPWH and DOTR.
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Question 9
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Total borrowings that will be sourced locally to finance the FY2020 national budget
70%
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Question 10
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Liberalization of rice importation eliminates price hike.
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Question 11
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Total borrowings to finance the FY 2020 national budget
5 Trillion
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Question 12
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Wendel E. Avisado
Current acting secretary of DBMAnswer
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The Supreme court ruling in April 2019, local government units (LGUs) will receive an
estimated 30% higher shares of the IRA starting FY 2022.
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Question 14
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President Manuel L. Quezon is a commonwealth president and not democratic president.
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Question 15
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To ensure soundness of the country’s debt portfolio, the government implemented
reforms on Treasury Single Account (TSA)
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Question 16
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The government allotted PhP 18.4 B to support farmers and fishermen.
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Question 17
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Inflation rate for the year 2019 as set by DBM range of 2.7 to 3.5.
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Question 18
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25 April 1936
Department of Budget and management was created on Answer .
Question 19
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The mandate of Department of Budget and Management is for effective and efficient
management of government resources.
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Question 20
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Benjamin Diokno
DBM secretary from 2016 to 2019 Answer
Question 21
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Peace and national security covers the judiciary in the national budget.
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Question 22
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BOC target collection for FY 2020 national budget in terms of peso
PHP 2.43 trillion
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Question 23
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Countries in the developing world are expected to grow at 4.7 % in 2020
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Question 24
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Philippines got a good credit standing due to its downward trend in national
government debt from 41.9% to 40.8%.
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Question 25
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Philippine National Police approved budget for FY 2020
PHP 187. 3 billion
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Irrigation development is also under Peace and national security in the national budget.
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Question 27
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The greater the percentage rate of inflation the better it is for the economy.
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Question 28
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LTO target collection for FY 2020 national budget in terms of peso
307.08 Billion
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BIR target collection for FY 2020 national budget in terms of peso
P1. 899 trillion
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EO NO. 25
Department of Budget and Management was created under Answer
Question 31
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The Philippines economy grew by a modest rate of 6.2% in 2018.
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Question 32
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The Department of Environment and Natural Resources got the biggest amount
of budget for the year 2020.
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Question 33
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DBM secretary from 2010-2016
FLORENCIO BUTCH ABAD
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Local Government units (LGUs) have shares from excise taxes on tobacco pursuant to RA
240.
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