This registry shall be maintained by Appropriation Act, by Fund cluster, by Major Fund Output or

program/activity/project for personnel services.

Correct answer: Registry of Allotments, Obligations and Disbursement - Personnel services

Score: 1 out of 1 Yes

Question 2

The DBM, Dept of Finance, Bureau of Treasury and COA are collectively responsible for the Unified
Accounts Code STructure (UACS). Who is responsible for the consistency of account classification and
coding standards with the Government Finance Statistics?

Correct answer: Dept of Finance - Bureau of Treasury

Score: 0 out of 1 No

Question 3

The Bureau of Treasury (BTR) is responsible for

Correct answer: receiving and keeping national funds and managing and controlling the disbursements
thereof

Score: 1 out of 1 Yes

Question 4

The Commission on Audit (COA) is responsible for

Correct answer: promulgating accounting and auditing rules and regulations.

Score: 1 out of 1 Yes

Question 5

The DBM, Department of Finance, Bureau of Treasury, and Commission on Audit are collectively for the
Unified Code Structure (UACS). Who is responsible for the validation and assignment of new codes for
funding source, organization, sub-object codes for expenditure items?

Correct answer: DBM

Score: 1 out of 1 Yes

Question 6

Its function is to assist the Commission on Audit in formulating and implementing Philippine Public
Sector Accounting Standards

Correct answer: Public Sector Accounting Standards Board

Score: 1 out of 1 Yes

Question 7

In the financial reporting system of the national government, to which of the following shall an entity
reconciles its cash records?

Correct answer: Bureau of Treasury

Score: 0 out of 1 No

Question 8

This registry shall be maintained by fund cluster by the Budget Division/Unit of each government entity
to ensure that allotment releases within the authorized appropriation
Correct answer: Registry of Appropriations and Allotments

Score: 1 out of 1 Yes

Question 9

Government resources must be utilized efficiently and effectively in accordance with the law. According
to PD no. 1445 , who is directly responsible in in implementing this policy?

Correct answer: The head of the government agency

Question 1

Which of the following expenditures is not shown in the statement of financial performance

Correct answer: CO

Score: 1 out of 1 Yes

Question 2

A check disbursement is normally recorded as a credit to the "Cash modified disbursement system
(MDS), Regular" account

Correct answer: True

Score: 1 out of 1 Yes

Question 3

The GAM of NGAS requires the Collecting Officer to issue an official receipt to acknowledge the receipt
of the Notice of Cash Allocation.
Correct answer: False

Score: 1 out of 1 Yes

Question 4

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

Correct answer: 4

Score: 1 out of 1 Yes

Question 5

The 8-digit Revised Chart of Accounts (RCA) Code for expenses starts with number

Correct answer: 5

Score: 1 out of 1 Yes

Question 6

The receipt of allotment is recorded in the

Correct answer: RAPAL and RAOD

Score: 1 out of 1 Yes

Question 7
Entity A, a government entity, made disbursements for travelling expenses of its personnel. These
expenditures are most like classified as

Correct answer: MOOE

Score: 1 out of 1 Yes

Question 8

The types of expenditure pertains to all types of employee benefits

Correct answer: PS

Score: 1 out of 1 Yes

Question 9

The NCA is recorded in the

Correct answer: d. a and b

Score: 1 out of 1 Yes

Question 10

Which of the following is (are) affected when a government entity makes disbursements to settle
recorded obligations?

Correct answer: All of these

Score: 1 out of 1 Yes

Question 11

Separate accounting records and budget registries are maintained for each fund cluster.

Correct answer: True

Score: 1 out of 1 Yes

Question 12

Which of the following accounts is credited when a government entity remits taxes withheld to the BIR?

Correct answer: Cash - Tax Remittance Advice

Score: 1 out of 1 Yes

Question 13

Government entities and business entities use the term "obligation' or the phrase " incurrence of
obligation" similarly

Correct answer: False

Score: 1 out of 1 Yes

Question 14

At the end of each year, an adjustment is made to revert any unused NCA of a government entity.

Correct answer: True

Score: 1 out of 1 Yes

Question 15

Which of the following records is technically not considered an accounting book?

Correct answer: Registry of Appropriations and Allotmetns

Score: 1 out of 1 Yes

Question 16

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

Correct answer: ORS and RAOD

Score: 1 out of 1 Yes

Question 17

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

Correct answer: maintained by the accounting unit of a government entity

Score: 1 out of 1 Yes

Question 18

Expenditures to acquire long-term assets are most likely classified as

Correct answer: CO

Score: 1 out of 1 Yes

Question 19
This is used to recognized the constructive remittance of taxes withheld to the BIR or customs duties
withheld.

Correct answer: Tax Remittance Advice

Score: 1 out of 1 Yes

Question 20

Technically, only the Journals and Ledgers are considered accounting records; the Registries are budget
records

Correct answer: True

Score: 1 out of 1 Yes

Question 21

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

Correct answer: Allotment

Score: 1 out of 1 Yes

Question 22

The various registries maintained by government entities primarily serve as internal control for
controlling and monitoring the conformance of actual results with the approved budget

Correct answer: True

Score: 0 out of 1 No
Question 23

The remittance of amounts withheld to the other government agencies, such as BIR, BOC, GSIS,
Philhealth and Pag-ibig, is done through the TRA.

Correct answer: False

Score: 1 out of 1 Yes

Question 24

The entry to record the reversion of unused NCA at the end of the period is the exact opposite of the
entry used to record the receipt of NCA.

Correct answer: True

Score: 1 out of 1 Yes

Question 25

Both ORS and RAOD are updated each time an obligation is incurred, a payable is recorded for the
obligation incurred, and disbursements are made to settle the recorded payables.

Correct answer: True

Score: 1 out of 1

Disbursement authority is recorded in the books of accounts.

Correct answer: True

Score: 1 out of 1 Yes

Question 2

Obligations recorded in the registries but not yet in the accounting records are referred to as

Correct answer: Not yet due and demandable

Score: 1 out of 1 Yes

Question 3

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

Correct answer: Allotment

Score: 1 out of 1 Yes

Question 4

Government funds shall only be spent in pursuance of an appropriation made by law.

Correct answer: True

Score: 1 out of 1 Yes

Question 5

After the budget call, budget hearings are made whereby agencies defend their proposed programs and
expenditures for the upcoming year before the

Correct answer: DBM

Score: 0 out of 1 No

Question 6

It is the function and activities necessary for the performance of a major purpose for which a
government entity is established

Correct answer: Program

Score: 1 out of 1 Yes

Question 7

Which of the following is correct regarding zero-based budgeting?

Correct answer: The current year’s budget is formulated without regard to the previous year’s budget.

Score: 0 out of 1 No

Question 8

The GAM for NGAS is promulgated by the Philippine Congress under the authority conferred to it under
the Philippine Constitution.

Correct answer: False

Score: 0 out of 1 No

Question 9

The GAM for NGAS is promulgated primarily to harmonize government accounting standards with the
US GAAP.

Correct answer: False

Score: 0 out of 1 No

Question 10

Taxes are the main sources of funds of the government.

Correct answer: True

Score: 1 out of 1 Yes

Question 11

A government agency shall maintain which of the following registries for allotments and obligations?

Correct answer: All of the choices

Score: 1 out of 1 Yes

Question 12

It is a part, segment, unit or function of a government agency, headed by a manager, who is

accountable for a specified set of activities.

Correct answer: Responsibility Accounting

Score: 0 out of 1 No

Question 13

It refers to the commitment by a government agency arising from an act of a duly authorized official
that binds the government to the immediate or eventual payments of a sum of money.
Correct answer: Obligation

Score: 1 out of 1 Yes

Question 14

Which of the following would most likely comes last in the budget process?

Correct answer: Performance review

Score: 0 out of 1 No

Question 15

Which of the following approaches to budget preparation provides the best internal control?

Correct answer: Zero-based budgeting

Score: 1 out of 1 Yes

Question 16

Allotments are recorded in the RAPAL and Registries of Allotments, Obligations and Disbursements.

Correct answer: True

Score: 1 out of 1 Yes

Question 17

Which of the following records is technically not considered an accounting book?

Correct answer: Registry of Appropriations and Allotments

Score: 1 out of 1 Yes

Question 18

This is used to recognize the constructive remittance of taxes withheld from BIR or customs duties

Correct answer: Tax Remittance Advice

Score: 1 out of 1 Yes

Question 19

The senate prepares the General Appropriation Bill.

Correct answer: False

Score: 1 out of 1 Yes

Question 20

Appropriation is also called obligational authority.

Correct answer: False

Score: 1 out of 1 Yes

Question 21

Appropriations, allotments, and incurrence of obligations are recorded only in the registries.

Correct answer: True

Score: 1 out of 1 Yes

Question 22

After deliberations in both houses in the Congress and finished, a committee is formed to harmonize
any conflict between the Representatives and Senate versions of the General Appropriations Bill. This
committee is called the

Correct answer: Bicameral Conference Committee

Score: 1 out of 1 Yes

Question 23

A government entity must first received an allotment before it can incur obligations.

Correct answer: True

Score: 1 out of 1 Yes

Question 24

The GAM for NGAs is promulgated by the

Correct answer: Commission on audit

Score: 1 out of 1 Yes

Question 25

It is an authorization made by law or other legislative enactment, directing payments of goods and
services out government funds under specified condition or for specific purposes.

Correct answer: Appropriation

Score: 1 out of 1 Yes

Question 26

The president shall submit the proposed budget to the Congress within 60 days from the opening of the
every regular session.

Correct answer: False

Score: 1 out of 1 Yes

Question 27

A unique financial reporting requirement of government entities is the use of fund cluster accounting.
Under fund cluster accounting. Under fund cluster accounting, separate books and reports are prepared
for each type of fund held by a government entity.

Correct answer: True

Score: 1 out of 1 Yes

Question 28

After the incurrence of obligations, the next step in the budget cycle is

Correct answer: Disbursement authority

Score: 0 out of 1 No

Question 29

In government accounting, which of the following is a capital outlay?

Correct answer: Land improvement

Score: 1 out of 1 Yes

Question 30

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

Correct answer: National budget

Score: 0 out of 1 No

Question 31

Which of the following statements best differentiates the government accounting process from the
accounting process of a business entity?

Correct answer: The government accounting process is similar to that of a business entity, except that it
incorporates budgetary controls, such as recording in the budget registries and preparing periodic
budget accountability reports.

Score: 1 out of 1 Yes

Question 32

The DBM, Dept of Finance, Bureau of Treasury and COA are collectively responsible for the Unified
Accounts Code Structure (UACS). Who is responsible for the validation and assignment of new codes for
funding source, organization, sub-object codes for expenditure items?

Correct answer: DBM

Score: 1 out of 1 Yes

Question 33

Entity A, a government entity, receives notice that out of its ₱10B approved budget for the year, Entity
A can incur obligations up to ₱4B in the first quarter. This event can be described as

Correct answer: Allotment

Score: 0 out of 1 No

Question 34

This type of budget is prepared in such a way that estimated revenues exceed estimated expenditures

Correct answer: Balanced budget

Score: 0 out of 1 No

Question 35

This registry shall be maintained by Appropriation Act, by Fund Cluster by Major Fund Output or
Progra/Activity/Project for personal