Chapter 1 - General Provisions, Basic Standards and Policies Flashcards
It is the process of analyzing, recording, classifying, summarizing and communicating all transactions involving the receipt and disposition of government funds and property and interpreting the results thereof.
a. Government auditing.
b. Government budgeting
c. Government accounting
d. National government
c. Government accounting
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
d. Legislative Department
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.
a. To receive and keep national funds and manage or control disbursements thereof.
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
b. Constitution of the Republic of the Philippines
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
d. Eight digits
The books of original entry shall be used to record, in time sequence, financial transactions and information presented in duly certified and approved accounting 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
a. Journal Entry Voucher
This is an authorization issued by the Department of Budget and Management to 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
c. Notice of Cash Allocation
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
a. Department of Budget and Management
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
d. Commission on Audit
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.
b. Department of Finance Bureau of Treasury
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
b. Government Business Enterprises
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
c. Public Sector Accounting Standards Board
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
b. Registry of Appropriations and Allotments
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 Services Personnel
c. Registry of Allotments and Notice of Transfer of Allocations
d. Registry of Revenue and Other Receipts.
a. Registry of Allotments, Obligations and Disbursements - Personnel Services
This form shall be used by the originating offices in the utilization of their approved budget allocation for off-budgetary and custodial funds, such as 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.
a. Budget Utilization Request Status
