Budget Process

Question 1

“encompasses the process of analyzing, recording, classifying, summarizing and communicating all transactions involving the receipt and disposition of government fund and property and interpreting the result thereof.”

Answer 1

Government Accounting

Question 2

Cash Authority issued periodically/monthly by DBM

Answer 2

Notice of Cash Allocation

Question 3

An authority issued by an agency’s Central Office to its regional and operating units to cover the latter’s cash requirements

Answer 3

Notice of Transfer Allocation

Question 4

Journal entry with credit of Cash MDS, Regular, where to record?

Answer 4

Check Disbursement Journal

Question 5

Who reviews agency proposals for alignment with priorities and fiscal sustainability?

Answer 5

DBM Technical Review Panels

Question 6

What COA Circular adapted the revised chart of account for NGAs?

Answer 6

2013002

Question 7

What is the primary reason for the existence of GAM for NGAs?

Answer 7

To harmonize the government accounting with international standards

Question 8

Which action can relieve an accountable officer from liability?

Answer 8

reporting force majeure within 30 days

Question 9

This is necessary before government entities can enter into contract that bind the government for the eventual disbursement of government funds.

Answer 9

Allotment

Question 10

Disbursement by government entities are most commonly made through?

Answer 10

MDS Checks

Question 11

Difference between government accounting and accounting for business entities

Answer 11

Places greater emphasis etc

Question 12

Is the statment of estimated receipts and estimated expenses which serves as basis for General Appropriation Act

Answer 12

National Government Budget

Question 13

An entity prepares its budget for the upcoming year from scratch

Answer 13

Zero-based budgetting

Question 14

No money shall be paid out of the Treasury except in pursuance of an appropriation made by law.

Answer 14

Article 6, Section 29, Paragraph 1 of 1987 Constitution

Question 15

What to record in ORS

Answer 15

Entering in a contract

Question 16

Disbursement for travelling expenses

Answer 16

MOOE

Question 17

What is Appropriation

Answer 17

Legislative Authorization

Question 18

Obligational authorization issued by DBM to incur obligations

Answer 18

Allotment

Question 19

It is the amount committed to be paid by the government arising from the act of a duly authorized administrative officer

Answer 19

Obligation

Question 20

Which Department prepares the national budget

Answer 20

Executive Department/DBM

Question 21

Annual documents required on the onset of the start of budget execution phase

Answer 21

Budget Execution Documents

Question 22

Phase of budget cycle that start upon the receipt of presidents budget

Answer 22

Legislation

Question 23

Kind of budget which basis are object of expenditure

Answer 23

Line-Item Budget

Question 24

Budgetting Approach that uses performance

Answer 24

Performance based Budgetting

Question 25

Budget Release document replace agency metrics

Answer 25

GAARD

Question 26

Budget of special nature special forms

Answer 26

Special Budget

Question 27

Budget of special nature special forms

Answer 27

Special Budget

Question 28

Final step of execution

Answer 28

Disbursement

Question 29

After deliberation in both houses etc

Answer 29

Bicameral Conference Committee

Question 30

Expenditures to acquire long term assets

Answer 30

Capital Outlay

Question 31

Formula for Unreleased Appropriations

Answer 31

Appropriation - Allotment

Question 32

Formula for Unobligated Allotments

Answer 32

Allotments - Obligations

Question 33

Formula for Unpaid Obligations

Answer 33

Obligations - Disbursements