Quiz 2

The respondent's email address (natalieclydemates@ncba.edu.ph) was recorded on

submission of this form.

Last Name, Given Name, MI Section *

Mates, Natalie Clyde, N. - BSA 1

Multiple Choice

Which of the following records is technically not considered an accounting

book?

a. General Journal

b. Subsidiary Ledger

c. Cash Disbursements Journal

d. Registry of Appropriations and Allotments

Which of the following is (are) affected when a government entity incurs

obligations?

a. ORS

b. RAPAL

c. RAOD

d. a and c
Government entities and business entities use the same accounting treatment
for all of the following except

a. trade discounts allowed to customers.

b. recognizing revenue from royalty agreements.

c. recognizing revenue from dividends.

d. remittance of taxes withheld to the BIR

According to the GAM for NGAs, the Registries are (choose the incorrect
statement)

a. maintained by the accounting unit of a government entity

b. maintained by fund cluster

c. maintained for each object of expenditure, whenever the registry is used for
monitoring obligations and disbursements

d. maintained by the budget division of a government entity

The 8-digit Revised Chart of Accounts (RCA) Code for the account “Subsidy
from National Government” starts with number

a. 2

b. 3

c. 4

d. 6
At the end of the period, the “Cash-Treasury/Agency Deposit, Regular” account
is closed to the

a. Subsidy from National Government account.

b. Accumulated Surplus or Deficit account.

c. Cash-Modified Disbursement System (MDS), Regular account.

d. This account is not closed.

Which of the following is not a form of disbursement authority?

a. Allotment

b. Notice of Cash Allocation

c. Non-Cash Availment Authority

d. Cash Disbursement Ceiling

Which of the following does not give rise to revenue from assistance or subsidy?

a. Inter-agency Fund Transfer

b. Notice of Cash Allocation

c. Tax Remittance Advice

d. Non-Cash Availment Authority

The NCA is recorded in the

a. Registry of Allotments and Notice of Cash Allocation (RANCA).

b. Books of accounts (Journal and Ledger)

c. Obligation Request and Status (ORS)

d. a and b

The national government received a foreign grant conditioned on the

construction of a public infrastructure. Entity A was chosen as the implementing
agency. When the national government received the grant, the entry in the BTr’s
books included a

a. credit to the “Subsidy from National Government” account.

b. debit to the “Cash – Modified Disbursement System (MDS), Regular” account.

c. credit to the “Cash in Bank-Local Currency, Bangko Sentral ng Pilipinas” account.

d. credit to the “Other Deferred Credits” account.

According to the GAM for NGAs, revenue includes only those that are received
or receivable by the entity in its own account. Accordingly, receipts on behalf of
another entity are

a. recorded as liability.

b. recognized as revenue.

c. recorded only in the registries but not in the books of accounts.

d. remitted only through the use of the TRA.

Remittances of collections to the National Treasury are recorded as a debit to
which of the following accounts

a. Cash – Collecting Officers

b. Cash-Treasury/Agency Deposit, Regular

c. Cash-Modified Disbursement System (MDS), Regular

d. Subsidy from National Government

Which of the following is (are) affected when a government entity makes

disbursements to settle recorded obligations?

a. ORS

b. RAOD

c. Journal and Ledger

d. All of these

A government entity recognizes revenue from exchange or non-exchange

transactions. Which of the following may not give rise to revenue by a
government entity?

a. Receipt of military equipment as donation from a foreign government.

b. Receipt of cash donation from an international organization.

c. Receipt of free trainings and seminars regarding process technology on farming

from an international organization.

d. Receipt of a bequest from the king of a foreign realm.

The receipt of allotment is recorded in the

a. RAPAL

b. RAOD

c. ORS

d. a and b

All of the following give rise to the recognition of revenue from non-exchange
transaction except

a. sale of goods

b. taxes

c. fines and penalties

d. donation of goods in-kind

8. According to P.D. 1445,

a. Amounts received in trust and from business-type activities of the government may
be separately recorded.

b. All revenues of an entity shall be retained by the entity and included in its General
Fund, unless another law specifically allows otherwise.

c. A collecting officer shall immediately issue a temporary receipt upon collecting a

payment of any nature.

d. Where mechanical devices (e.g. electronic official receipt) are used to acknowledge
cash receipts, the BIR may approve, upon request, the exemption from the use of
accountable forms.
The entry to close the “Cash-Treasury/Agency Deposit, Regular” account at the
end of the period is

a. Accumulated Surplus / Deficit (DR) ; Cash - Treasury/ Agency Deposit Regular (CR)

b. Subsidy from National Government (DR) ; Cash - Treasury / Agency Deposit Regular
(CR)

c. Cash - collecting Officers (DR) ; Cash - Treasury / Agency Deposit Regular (CR)

d. None of these. The account is not closed

The journal entry to record the collection of unbilled tax revenue (e.g., Travel Tax)
through direct deposit in Authorized Agent Banks is

a. Accounts Receivable (DR) ; Travel Tax (CR)

b. Cash-modified disbursement system (MDS), Regular (DR); Travel tax (CR)

c. Cash-collecting Officers (DR), Travel tax (CR)

d. Cash - Treasury/Agency Deposit, Regular (DR)

According to P.D. 1445, all revenues of an entity shall be remitted to the National
Treasury and included in the

a. General Fund

b. Special Fund

c. National Fund

d. Official Fund

This form was created inside of National College of Business and Arts.
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