Chapter 5 - Accounting for Disbursements and Related Transactions Flashcards
All checks drawn during the day, whether released or unreleased including cancelled checks shall be recorded chronologically in the
a. CBReg
b. CkADADRec
c. RADAI
d. RCI
B
Checks and Advices to Debit Account Disbursements Record (CkADADRec)
Which of the following is not true regarding cash advance for payroll?
a. Any unclaimed salaries/allowances shall be refunded and issued official receipt to close the account.
b. Advances for Payroll may be used for encashment of checks or for liquidation of previous or other types of cash advances.
c. Liquidation of the advances shall be made within five (5) days after the end of the pay period.
d. Advances for Payroll shall be equal to the net amount of the processed payroll corresponding to the pay period.
B
This refers to the payment procedures whereby the MDS-GSB shall pay the creditors/payees listed in the LDDAP-ADA not later than 48 hours but not earlier than 24 hours upon receipt of the said document from the NGA/OU
a. Disbursements
b. Expanded Modified Disbursement Payment Scheme
c. Commercial Check
d. Advice to Debit Account
B
This refers to the payment procedure whereby the MDS-GSB shall, upon receipt of NCA an LDDAP-ADA from DBM pay the CCC not earlier than 24 hours but not later than 48 hours, through direct credit to the CCC current account.
a. Advice to Debit Account
b. Commercial Check
c. Authorized Card Holder
d. Direct Payment System
D
This refers to the amount granted on the explicit authority of the Head of the Agency only to duly designated disbursing officers or employees for other legally authorized purposes.
a. Tax Remittance Advice
b. Purchase Limit
c. Special Cash Advance
d. Regular Cash Advance
C
This serves as instruction to the Modified Disbursement System, Government Servicing Banks to debit a specified amount from its available NCA balance under regular MDS sub-account for payment of creditors/payees through the Expanded Modified Disbursement Payment Scheme
a. Advice to Debit Account
b. Authorized Card Holder
c. Direct Payment System
d. Commercial Check
A
This constitutes all cash paid out during a given period in currency (cash) or by check/ADA. It may also mean the settlement of government payables/obligations by cash, check or ADA.
a. Commercial Check
b. Disbursements
c. Special Cash Advance
d. Regular Cash Advance
B
The authority of an agency to pay operating expenses, purchases of supplies and materials, acquisition of PPE, accounts payable, and other authorized disbursements through the issue of MDS checks, ADA, or other modes of disbursements.
a. Advice to Debit Account
b. Notice of Cash Allocation
c. Direct Payment System
d. Expanded Modified Disbursement Payment Scheme
B
The following account shall be debited once cash advance has been granted
a. Cash - MDS, Regular
b. Advances to Officers and Employees
c. Appropriate expense account
d. Cash advance
B
The following account shall be credited in recording replenishment of PCF
a. Cash - MDS, Regular
b. Accumulated Surplus
c. Appropriate expense account
d. Petty cash fund
A
Which of the following rules in granting and liquidation of cash advances is NOT true?
a. Cash advance shall be given only for legally authorized specific purpose.
b. No officer or employee shall be granted cash advance unless he/she is properly bonded in accordance with existing laws or regulations except for cash advance for official travel. The amount of cash advance which may be granted shall not exceed the maximum cash accountability covered by his/her bond
c. Additional cash advance may be allowed to any official or employee even if the previous cash advance given to him/her is not settled/liquidated.
d. Disbursing functions shall be performed only by duly appointed or designated disbursing officer. Officers and employees who are given cash advances for official travel need not be designated as Disbursing Officers.
C
This specifies the maximum amount of withdrawal that an entity can make from a government bank for the period indicated.
a. Notice of Cash Allocation
b. Appropriation
c. Allotment
d. Notice of Transfer of Allocation
A
Which of the following is NOT true regarding cash advances for travel?
a. No government fund shall be utilized to defray foreign travel expenses of any government official or employee, except in the case of training, seminar or conference abroad when the officials or other personnel of the foreign mission cannot effectively represent the country therein, and travels necessitated by international commitments.
b. The officers/employees who made the travel shall prepare the Liquidation Report which shall be the basis for the preparation of the JEV.
c. Officials and employees not authorized to travel may be granted cash advance in certain cases to cover traveling expenses.
d. Liquidation for cash advances for local travel shall be done within a period of 30 days upon return to the personnel’s workstation and within 60 days upon return to the Philippines for cash advance for foreign travel.
C
Which of the following entry is NOT used to recognized the receipt of NCA?
a. Cash - MDS, Regular
Subsidy from National Government
b. Cash - MDS, Special Account
Cash - Treasury/Agency Deposit, Special Account
c. Cash - MDS, Special Account
Subsidy from National Government
d. Cash - MDS, Trust
Cash - Treasury/Agency Deposit, Trust
C
This shall be the authority of the regional and operating units to pay their operating expenses, purchases of supplies and materials, acquisition of PPE, accounts payable, and other authorized disbursements through the issue of MDS checks, ADA or other modes of disbursements.
a. Notice of Cash Allocation
b. Appropriation
c. Allotment
d. Notice of Transfer of Allocation
D
