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mcq govacc > Chapter 9 - The Accounting for Barangays > Flashcards

Chapter 9 - The Accounting for Barangays Flashcards

1
Q

The following are the fundamental principles of barangay, except

a. No money shall be paid out of the local treasury except in pursuant of an appropriation ordinance or laws
b. All claims agains government funds shall be supported with complete documentation.
c. No public money or property shall be appropriated or applied for private purposes except religious purpose.
d. Disposition or disbursements of government funds or property shall bear the approval of the proper officials.

A

c. No public money or property shall be appropriated or applied for private purposes except religious purpose.

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2
Q

How would the barangay transactions be recorded in the books of original entry?

a. Single entry bookkeeping
b. Double entry bookkeeping
c. Memo entry
d. No entry

A

b. Double entry bookkeeping

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3
Q

Recording of barangay transactions shall be recorded in the books through Journal Entry Voucher by

a. Barangay Treasurer
b. Barangay Record Keeper
c. City/municipal accountant
d. Budget officer

A

c. City/municipal accountant

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4
Q

What is the basis of the approved appropriations for barangays?

a. Agency Budget Matrix (ABM)
b. General Appropriation Act (GAA)
c. General Appropriation Ordinance (GAO)
d. General Allotment Release Order (GARO)

A

c. General Appropriation Ordinance (GAO)

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5
Q

What is the legal basis of the Commission on Audit in prescribing and implementing the New Government Accounting System for barangay?

a. Presidential Decree 1445
b. Article IX-D, Sec. 2 of the 1987 Consitution of the Philippines
c. COA Circular 2013-002
d. COA Resolution 2008-12

A

b. Article IX-D, Sec. 2 of the 1987 Consitution of the Philippines

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6
Q

Specifically, the barangay accounting plan presents the following types of transactions except

a. Collections and deposits
b. Disbursements
c. Loss/shortage of cash
d. Special Trust Fund

A

d. Special Trust Fund

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7
Q

The Record of Appropriation and Obligations (RAO) shall show the annual and supplemental appropriations and obligations charged. Separate RAO shall be maintained the following except

a. Continuing appropriations
b. Sangguniang Kabataan Fund
c. Gender and Development Fund
d. Local Disaster Risk Reduction Management Fund (LDRRMF)

A

c. Gender and Development Fund

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8
Q

Which of the following is a component of the General Fund of barangay?

a. Personnel services
b. 20% Development Fund
c. 10% Sangguniang Kabataan Fund
d. 5% Local Disaster Risk Reduction Management Fund

A

a. Personnel services

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9
Q

Disbursements refer to all check/cash paid out during a given period. Disbursements shall be recorded in the books through a Journal Entry Voucher (JEV). Who shall prepare the JEV?

a. Barangay Treasurer
b. Barangay Recordkeeper
c. Punong Barangay
d. City/Municipal Accountant

A

a. Barangay Treasurer

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10
Q

The barangay received financial assistance from different sources. Which of the following should be treated as Grants and Donations in Cash?

a. Financial assistance from Not for Profit Organization
b. Financial assistance from office of the Mayor
c. Financial assistance from other barangay
d. Financial assistance from National Government Agency

A

a. Financial assistance from Not for Profit Organization

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11
Q

According to Manual on Financial Management of Barangay, there are two instances when full liquidation of petty cash is required. Which is one of those two instances?

a. At the end of the year
b. When petty cash disbursements reach 75% or as needed
c. When petty cash is replenished
d. Anytime at the discretion of the petty cash custodian

A

a. At the end of the year

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12
Q

The petty cash fund of barangays shall be maintained using the imprest system. The amount of petty cash fund shall be determined by the Sangguniang Barangay but not to exceed

a. P1,000
b. P2,000
c. 75% of the funds available
d. 20% of the funds available

A

a. P1,000

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13
Q

It is the allotment released by Local Government Units or Department of Budget and Management to barangays.

a. Internal Revenue Allotment (IRA)
b. Barangay Social Fund
c. Income from grants and donations
d. Subsidy from other LGU

A

a. Internal Revenue Allotment (IRA)

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14
Q

This barangay official shall act as the property officer of barangay.

a. Punong barangay
b. Barangay Record Keeper
c. Barangay Treasurer
d. Kagawad

A

c. Barangay Treasurer

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15
Q

Which of the following transactions is treated as miscellaneous transactio of a barangay?

a. Cash shortage
b. Cash advance for petty cash
c. Grants and Donations in kind
d. Subsidy from Not for Profit Organization

A

a. Cash shortage

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16
Q

Under the new barangay accounting system, cash advance for payment of personal services shall be accounted as

a. Cash Advance for Payroll
b. Advances to Officers and Employees
c. Cash advance - Disbursing Officers
d. Cash advance Special Purpose/Time Bound Undertakings

A

a. Cash Advance for Payroll

17
Q

According to Manual on the Financial Management of Barangay, depreciation of Investment Property and Property, Plant and Equipment shall be computed using the straight-line method after deducting a residual value equivalent to

a. 5% of cost
b. 10% of cost
c. 15% of cost
d. No residual value

A

a. 5% of cost

18
Q

Which of the following appropriation shall be reverted to unappropriated status of barangay appropriations?

a. Unspent appropriation for Personnel Services
b. Unspent appropriation for LDRRMF - MOOE
c. Unimplemented appropriation for Capital Outlay
d. Unused SK Fund not transferred to SK account

A

a. Unspent appropriation for Personnel Services

19
Q

Land and building held to earn rentals or for capital appreciation
or both shall be classified as

a. Property, Plant and Equipment
b. Investment Property
c. Infrastructure Asset
d. Biological Asset

A

b. Investment Property

20
Q

Barangays may receive subsidies and grants for specific purpose. Once the purpose/condition is met, the portion of the grant corresponding to the expenditure incurred shall be recognized as income. How would the barangay record these subsidies and grants upon receipt?

a. Subsidy from National Government Agency
b. Grants and Donations in Kind
c. Grants and Donations in Cash
d. Trust Liability

A

d. Trust Liability

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