Questions

Question 1

Maintain accounting books and budget registries which are reconciled
with the cash records of the BTr and the budget records of the COA and DBM.

Answer 1

Government Agencies

Question 2

Cash custody and control of disbursements

Answer 2

Bureau of Treasury (BTr

Question 3

Formulation & Implementation of the national
budget

Answer 3

Department of Budget and Management (DBM

Question 4

Departments, bureaus, offices, and other instrumentalities of the NGA, including the congress, the judiciary, the constitution jodies, state college, and universities, and other self-contained institutions and hospital arerequired by law

Answer 4

National Government Agencies

Question 5

Departments, bureaus, offices, and other instrumentalities of the NGA, including the congress, the judiciary, the constitution jodies, state college, and universities, and other self-contained institutions and hospital arerequired by law

Answer 5

National Government Agencies

Question 6

Promulgate accounting and auditing rules, keep the general
accounts and submit financial reports to Congress/President

Answer 6

Commission on Audit (COA)

Question 7

Process of preparation, presentation and submission of general purpose financial statements
and other reports The objective is to provide inform . ation about the entity that is useful to users
for accountability purposes and decision-making

Answer 7

Financial Reporting

Question 8

Refers to an accounting entity for recording expenditures and revenues

Answer 8

Fund cluster accounting

Question 9

Refers to an accounting entity for recording expenditures and revenues

Answer 9

Fund cluster accounting

Question 10

The GAM for NGAs was promulgated primarily to harmonize the government accounting standards with?

Answer 10

International Public Sector Accounting Standards (IPSAS

Question 11

It is an authorization issued by the DBM to NGAs to incur obligations. It is also referred to as
Obligational Authority.

Answer 11

Allotment

Question 12

All disbursements of government entities must be in conformance with the law and the

Answer 12

National Budget

Question 13

Detailed financial statements and trial balances consolidated by fund cluster as follows

Answer 13

1. Regular Agency Fund
2. Foreign Assisted Projects Fund
3. Special Accounts - Locally Funded/Domestic Grant Fund
4. Special Accounts - Foreign Assisted/ Foreign Grant Fund
5. Internally Generated Funds
6. Business Related Funds
7. Trust Receipt/Inter-agency Transfered Funds (IATF)

Question 14

Recognized without cash

Answer 14

Accrual Basis

Question 15

It is the authorization made by a legislative body to allocate funds for purposes specified by
the legislative or similar authority.

Answer 15

Appropriation

Question 16

Respondisble for the formulation and implementation of the National Budget with the goal of attaining our national socio-economic plans and objectives

Answer 16

Department of Budget and Management

Question 17

Plays a pivotal role in the cash operation of national government

Answer 17

Bureau of Treasury

Question 18

Econmpasses the process of analysing, recording, classifying, summarising, and communicating all transaction

Answer 18

Government Accounting Section 109 Presidential Degree 1445

Question 19

Not considered as Government Business Enterprises (GBE)

Answer 19

National Government Agencies (NGA)
Local Government Units (LGU)
Government Owned and/or Controlled Corporation (GOCCs)

Question 20

Created in 2008 under COA Resolution No. 2008-12 to assist the commission in formulating and implementing Phil. Public Sector Accounting Standards (PPSAS).

Answer 20

Public Sector Accounting Standards Board (PSASB)

Question 21

This sector shall apply to all National Gov. Agencies (NGAs), LGU, GOCC.

Answer 21

Philippine Public Sector Accounting Standards (PPSAS)

Question 22

The registry shall be maintained by the Budget Division/ Unit by Appropiation Act, fund cluster, by major final output (MFO) or program/activity/project (pap) for financial expenses

Answer 22

Registry of allotments, Obligations and disbursement- fiancial expenses