mcq ch1-ch5 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.
Government accounting
Which is not charged with the government accounting responsibility?
a. COA
b. DBM
c. NGAs
d. Legislative Department
D
What is the role of BTr 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
What is the legal basis of the COA in promulgating accounting and auditing rules and regulations?
a. PD 1445
b. Constitution of Republic of the Philippines
c. COA Circular No. 2002-03
d. PD 1445 and the Constitution of the Republic of the Philippines
B
According to COA Cir. No. 2013-002 dated January 30, 2013, the NGAS, effective January 1, 2014, uses a standard chart of accounts with ________ digits
8
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. JEV
b. Journal of Checks issued
c. Journal and Analysis of Obligations
d. Journal of Bills Rendered
A
This is an authorization issued by DBM to government agencies to withdraw cash from the National Treasury through the issuance of MDS checks or other authorized made of disbursements.
NCA
DBM, DOF, BTr, and COA are collectively responsible for the UACS. Who is responsible for the validation and assignment of new codes for funding source, organization, sub-object codes for expenditure items?
DBM
DBM, DOF, BTr, and COA are collectively responsible for the UACS. Who is responsible for the consistency of accounting classification and coding structure with the Revised Chart of Accounts?
COA
DBM, DOF, BTr, and COA are collectively responsible for the UACS. Who is responsible for the consistency of account classification and coding standards with the GFS?
DOF-BTr
PPSAS shall be applied to the following
a. NGAs
b. GBEs
c. LGUs
d. GOCCs
B.
Its function is to assist the COA in formulating and implementing PPSAS
a. BOA
b. PICPA
c. PSASB
d. Philippine Accounting Standards Committee
C
This registry shall be maintained by fund
