Chapter 2 - accounting For Budgetary Accounts

Question 1

It is a budgeting approach that uses performance information to assist in deciding where the funds will go

Answer 1

Performance-informed budgeting

Question 2

The four phases the budget cycle

Answer 2

The budget preparation
legislative authorization
budget execution and operation
budget accountability

Question 3

BudgetPreparation begins with The issuance of a ___________

Answer 3

Budget call

Question 4

The presidents budget consist of the following documents

Answer 4

President’s budget message
budget of expenditure and source financing BESF
national expenditure program NEP
details of selected programs and projects
staffing summary

Question 5

Appropriations are approved by the legislative body in the form of:

Answer 5

General appropriation law
supplemental appropriation
automatic appropriations

Question 6

Required reports that show how agencies use their funds and identify their corresponding physical accomplishments

Answer 6

Budget and financial accountability report

Question 7

What are the budgetary accounts

Answer 7

Appropriation
allotment
obligation

Question 8

Authorization Made by law and other legislative enactment, directing payment of goods and services out of government funds under specific conditions or for specific purpose

Answer 8

Appropriation

Question 9

Contains the agencies targets and plans for the fiscal year

Answer 9

Budget execution documents (BED)

Question 10

Contains information on agencies actual accomplishment and performance for a given period

Answer 10

Budget and financial accountability report

Question 11

The following budget execution documents shall be submitted

Answer 11

BED 1 Financial Plan
BED 2 Physical Plan
BED 3 Monthly Disbursement Plan
BED 4 Annual Procurement Plan for Common Use Supplies and Equipment

Question 12

The disbursement authority

Answer 12

Notice of cash allocation NCA
cash disbursements ceiling CDC
non-cash availment authority NCAA
tax remittance advice TRA

Question 13

It is a budget where the proposed expenditures are equal to or less than the estimated revenues

Answer 13

Balanced budget

Question 14

Over all accounting system of a government agency or unit unit

Answer 14

General accounting plan plan

Question 15

Accounting systems in NGAS

Answer 15

budgetary account system
receipt/income and deposit system
disbursement system
Financial Reporting system

Question 16

It is a plan for financing government activities for the year, prepared and submitted by responsible executives to a representative body whose approval and authorization are necessary before the plan can be executed

Answer 16

National budget

Question 17

Kinds of budget

Answer 17

As to nature
Annual budget, supplemental budget, special budget

As the basis
performance budget, line-item budget

As to approach and technique
zero-based budgeting, incremental approach