Chapter 4 - Accounting for Budgetary Accounts Flashcards
It is the system of prescribing the procedures for recording appropriations, allotments, and obligations.
A. Fund accounting
B. Budgetary accounting
C. Obligation accounting
D. Government accounting
B. Budgetary accounting
Its main concern is the availability and use of funds for public services.
A. Commission on audit
B. Department of Finance
C. Bureau of Treasury
D. National Budgetary System
D. National Budgetary System
It is a statement of estimated receipts and estimated expenses of the government, which serves as basis for a General Appropriation Act.
A. Statement of financial position
B. Statement of operations
C. National Government Budget
D. Local Government Budget
C. National Government Budget
Which department prepares the national budget, which serves as the basis of General Appropriation Act.
A. Executive department
B. Legislative Department
C. Judiciary department
D. National Government agencies/units
A. Executive department
It is the legislative consideration, review and approval of the national budget.
A. Preparation
B. Authorization
C. Execution
D. Accountability
B. Authorization
It is the implementation of the national budget by different departments and release of allotments.
A. Budget preparation
B. Budget Authorization
C. Budget execution
D. Budget accountability
C. Budget execution
It denotes the responsibility to others that one or more persons have for their action and behavior.
A. Preparation
B. Accountability
C. Authorization
D. Execution
B. Accountability
As specifically provided for in the new constitution, no money shall be paid out of the national treasury except in the pursuance of
A. Budget
B. President’s executive order
C. Fund
D. Appropriation
D. Appropriation
It is the legislative authorization to make payments out of government funds under specified conditions and specific purposes.
A. Appropriation
B. Allotment
C. Obligation
D. Budgeting
A. Appropriation
It is the authorization from the department of budget and management to an agency to incur obligation up to a specified amount that must be within the legislative appropriation.
A. Obligation
B. Appropriation
C. Allotment
D. Fund release
C. Allotment
It is the amount committed to be paid by the government arising from an act of a duly authorized administrative officer and which binds the government to the immediate and eventual payment of money.
A. Obligation
B. Appropriation
C. Allotment
D. Commitment
A. Obligation
It is the functions and activities necessary for the performance of a major purpose for which a government entity is established.
a. Program
b. Project
c. Resources
d. Internal Control
a. Program
The journal entry to be made in the books of government agencies/units upon receipt of Notice of Cash Allocation is
a. debit: cash - MDS, Regular
credit: Subsidy from National Government
b. debit: cash in Bank - Local Currency, Current Account
credit: Subsidy from National Government
c. debit: cash in Bank - Local Currency, Savings Account
credit: Subsidy from National Government
d. a. debit: Cash in Bank- Local Currency, Time Deposit
credit: Subsidy from National Government
a. a. debit: cash - MDS, Regular
credit: Subsidy from National Government
The budgetary accounts in government accounting is consist of the following:
a. Allotment, obligation, and liquidation
b. Appropriation, liquidation, and Notice of Cash Allocation
c. Appropriation, Allotment, and Obligation
d. Allotment, liquidation, and Notice of Cash Allocation
c. Appropriation, Allotment, and Obligation
It is the formal document issued by the Department of Budget and Management to the head of the agency containing the authorization, conditions, and amount of allocation.
a. Special Allotment Release Order
b. Allotment and Obligation Slip
c. Notice of Cash Allocation
d. Registry of Allotment and Obligation
a. Special Allotment Release Order
In government accounting, which of the following is a Personnel Service?
a. Telephone charge
b. Rent
c. Meal allowance for overtime work
d. Salaries and wages
d. Salaries and wages
In government accounting, which of the following is a capital outlay?
a. Salaries and wages
b. Repairs and maintenance
c. Land improvement
d. Merchandise inventory
c. Land improvement
It is the annual document, required at the onset of the budget execution phase, which contains the agencies’ targets and plans of the current year.
a. Agency Budget Matrix (ABM)
b. Annual Cash Program (ACP)
c. Budget Execution documents (BEDs)
d. Budget Accountability Report (BARs)
c. Budget Execution Documents (BEDs)
It is a budget execution document that serves as an overall plan of the government agency encompassing the targeted outputs and estimated obligations broken down by quarter.
a. Physical and Financial Plan (PFP)
b. Monthly Cash Program (MCP)
c. Estimate of Monthly Income
d. List not yet due and demandable obligations
a. Physical and Financial Plan (PFP)
It is a component of Budget Accountability Reports (BARs) that should be reported on a monthly basis.
a. Monthly Cash Program
b. List not yet due and demandable obligations
c. Estimate of monthly income
d. Statemetn of allotments, obligations and balances
d. Statement of allotments, obligations and balances
it is a disbursement authority representing Modified Disbursement Checks issued and direct payments to external creditors per validated advice to debit account in the list of due and demandable accounts payable.
a. Tax Remittance Advice (TRA)
b. Notice of Cash Allocation (NCA)
c. Non-Cash Availment Authority (NCAA)
d. Cash disbursement Ceiling
b. Notice of Cash Allocation (NCA)
It refers to any changes within an activity or project, change in operating unit, allotment class, object of expenditure, within an agency or department budget.
a. change in estimate
b. correction or error
c. augmentation
d. modification
d. modification
It is a budget where the exposed expenditures are equal to or less than the estimated revenues.
a. annual budget
b. supplemental budget
c. balanced budget
d. line-item budget
c. balanced budget
It is a budgeting approach that uses performance information to assist in deciding where the funds will go.
a. performance-informed budgeting
b. zero-based budgeting
c. performance-based budgeting
d. line-item budgeting
a. performance-informed budgeting
It is a phase of budget cycle that starts upon the receipt of the president’s budget by the house speaker and ends with the president’s enactment of the general appropriations act.
a. budget preparation
b. budget legislation
c. budget execution and operation
d. budget accountability
b. budget legislation
a budget, the basis of which are the objects of expenditure.
a. annual budget
b. special budget
c. line-item budget
d. supplemental budget
c. line-item budget
- a budget of special nature and generally submitted in special forms on account that itemizations are not adequately provided in the appropriations act or that the amount are not all included in the appropriations act.
a. annual budget
b. special budget
c. line-item budget
d. supplemental budget
b. special budget
this document outlines the priority areas of government activity applicable to the budget year.
a. budget message
b. budget proposal
c. budget call
d. budget calendar
c. budget call
in government accounting, which of the following is maintenance and other operating expense (MOOE):
A. Night shift differential
b. janitorial services
c. honorarium
d. salaries and wages
b. janitorial services
It is a budget release document that shall serve as obligational authority for the comprehensive release of budgetary items appropriated in the general appropriations act categorized as for comprehensive release (FCR).
A. General appropriations act allotment order (GAAAO)
b. allotment release program (arp)
c. budget execution documents (bed)
d. budget accountability report (bar)
A. General appropriations act allotment order (GAAAO)
it is the expenditure authority derived from laws, appropriations, bills, government ordinances, and other decisions related to the anticipated revenue or receipts for the budgetary period.
a. annual budget
b. approved budget
c. appropriation
d. allotment
b. approved budget
which of the following national government agencies is authorized by specific laws to utilize income collections accruing to their special accounts in the general funds (SAGFs) pursuant to MBC No. 87 dated January 3, 2022?
a. department of health
b. department of labor and employment
c. department of public works and highways
d. department of tourism
b. department of labor and employment
it is a disbursement authority document issued by the dbm to agencies to cover the liquidation of their actual obligation incurred against available allotments for availment of proceeds from loans/grants through supplier’s credit constructive cash.
a. non-cash availment authority
b. notice of transfer of allocation
c. cash disbursement ceiling
d. notice of cash allocation
a. non-cash availment authority
