2. The Vice-Pres.

of the GSIS instructed a cash custodian to release funds for the acquisition of a laptop for the former’s son's
graduation. The custodian to relieve herself from any liability and to avoid any conflict with the VP released the funds and then
notified the VP in writing that his instruction is not according to the law.

The action of the custodian is incorrect. B

3. To update the standards, policies, guidelines, and procedures in accounting for government funds and property: coding
structure and accounts, accounting books, registries, records, forms, reports, and financial statements: rules and regulations
regarding the filing and payment of taxes by government employees are all part of the objectives in updating the GAM.

This statement is correct. B

4. The principles used in financial reporting of government entities are very unique that only a very few of these principles are
similar to those that are applied to business entities. This the reason why the principles in the GAM for NGAs are dissimilar to the
principles in the PFRS

6. All CPAs working in the accounting department of any government agency is tasked in keeping the general accounts of the
government including all the voucher and supporting documents.

This statement is incorrect. A

7. The GAA No. is recorded in the Budget Registry called _____. Use the acronym only. RAPAL

8. The Bureau of Treasury is responsible for receiving and keeping the national funds and managing and controlling the ___
thereof. DISBURSEMENTS

9. In the RAOD, the difference between the allotment and the obligation is called ___ UNOBLIGATED ALLOTMENTS

10. i. Budget basis for presentation of budget information in the financial statements (FSs) in accordance with PPSAS 24

ii. RCA prescribed by COA

iii. financial statements are based on both accounting and budgetary records

iv. The fund cluster accounting

All of the above statements are in accordance with the Budget and Accounting principles

11. According to Accountant A of The "Cash - Treasury/Agency Deposit, Regular” account is used when taxes withheld are
remitted to the BIR.

According to Accountant B of The “Cash - Treasury/Agency Deposit, Regular" account is used when collections of revenue are
remitted to the BTr.

Both Accountants are correct

14. Appropriation, Allotment, Disbursement Authority. Incurrence of Obligation are all events or transactions will require
recording in the books of accounts .

This statement is incorrect. B

15. No journal entry is made for the receipt of this type of disbursement authority, best example is the NCA. A

16. After the Budget call from the DBM, the proposed budget of various agencies are submitted immediately to the Office of the
President for review. B

17. In the ORS, the difference between the obligation and the payable is called ___ BALANCE NOT YET DUE
19. The approved budget is the expenditure authority derived from appropriation laws, government ordinances, and other
decisions related to the anticipated revenue or receipts for the budgetary period.

This statement is correct. A

20. Under responsibility accounting, a cost is considered controllable at a given level of managerial responsibility if the cost is
nonrecurring, can be measured with sufficient reliability and is not immaterial.

This statement is correct. A

21. No journal entry is made for the following disbursement under LDDAP-ADAand eMDS.

This statement is correct. B

22. While the Executive implements the budget for the current year, it also prepares the budget for the next fiscal year, or
defends it before Congress. Meanwhile, the budget execution and budget accountability phases are implemented simultaneously
year-round.

This statement is correct A

23. Reversion of unused NCA at the end of the period.

• Payment of accounts payable wherein the tax portion is withheld.

• Granting of cash advance for payroll.

• Constructive remittance of taxes withheld to the BlR.

____ the above transactions is/are not recorded through a credit to the “Cash-Modified Disbursement System (MDS), Regular"
account

Choose 1,2,3,4

24. List of Not Yet Due and Demandable Obligations is a report, required of government entitieswhich shows the names of
creditors, the amounts owed to them, and the number of days these obligations are outstanding. This report is submitted to the
COA and DBM within 30 days after the end of the year.

The statement is incorrect. A

26. Agency A remitting collections to the BTr will debit Cash - Collecting Officer to record the remittance.

This statement is incorrect. A

27. According to P.D. 1445, government entities shall acknowledge receipts of revenue through pre-numbered official receipts and
through temporary receipts; provided a prior approval by COA is obtained.

This statement is correct. B

28. The ____ fund is available for any purpose other than those which other funds have been designated to ENDOWMENT

30. This financial expenses are charges for the use of cash or cash equivalents, or amounts due to the entity.

This statement is correct A

31. A .constructive remittance of taxes withheld to the BlR through TRA.

B remittance of collection to the National Treasury.

C. payment of accounts payable.

D. receipt of inter-agency fund transfer.

Which of the above transactions does not normally entail an actual receipt of a subsidy in the GSB account of the Agency.
Choose from A,B,C, D

32. DA, NIA, DOLE. DOF and DENR will most likely be able to obtain a disbursement authority in the form of a Cash Disbursement
Ceiling .

This statement is incorrect. A

33. In the SPMS Rating Scale, the descriptive rating is called ____ rating. Wherein the numerical rating 5 is equivalent to
Outstanding. PERFORMANCE

34. The ___ is a mode of disbursement that would result to the recognition of a loan payable in the books of the BTr

CASH DISBURSEMENT CEILING

35. Arrange the following accounts in the sequence they appear in the RCA according to their Account group

I. Permit Fees

II. Allowance for ImpairmentAccounts Receivable

III. Due toBIR

IV. Salaries and Wages-Regular

V. Advances for Payroll

a. II, V, I, Ill and IV

b. V. II. III. I and IV

c. II, V. Ill, land IV

d. II, III, V, I and IV

36. This Cash-Collecting Officer is debited when government entities remit collections to the National Treasury.

This statement is incorrect. A

37. • Remittance of collections of revenue to the National Treasury

• Remittance of employee contributions to GSIS, Pag-IBIG and PhilHealth

• Remittance of excess cash advance by an officer

are all transactions that does not involve the physical transfer of cash

This statement is incorrect. A

38. The budget preparation in the Philippines starts with the Budget Call from the BTr and uses a nonincremental approach.

This statement is true. B

40. The authority issued by the DBM to agencies to cover liquidation of their actual obligations against available allotments
through Suppliers' Credit/Constructive Cash is the ___.

Give the Acronym only NCAA

42. The ____ shows the agency's authorized appropriations, allotments received, obligations incurred, disbursements made, the
balance of unreleased appropriations, unobligated allotments and unpaid obligations with details of expenditures.This report is
submitted within 30 days after the end of each quarter

a. Summary of Appropriations, Allotments, Obligation, Disbursements, and Balances by Object of Expenditure

 b. Statement of Appropriations, Allotments, Obligation, Disbursements, and Balances by Object of Expenditure

c. Summary of Appropriations, Allotments. Obligation. Disbursements, and Balances

43. The disbursement system includes all of the following transactions

• preparation and issuance of disbursement vouchers

• payment by cash

• liquidation/replenishment of cash advances.

This statement is correct. B

44. The NCA received is usually the net amount of the TRA system.

This statement is correct A

45. • Mr. A (Budget Officer/Head of Accounting Unit)

• Mr. B (Budget Officer/Head of Budget Unit)

• Mr. C (Chief Accountant/Head of Accounting Unit)

The Obligations/Utilizations will be properly charged against available allotment/budget by Mr. ____ B

46. The SFC. CA, Bicameral Comittee, and the DBCC does not belong to the same group in the budget process.

This statement is incorrect. B