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The document contains multiple-choice questions related to government accounting, budgeting, and financial reporting standards in the Philippines. It covers various topics including the roles of different government agencies, accounting systems, and the legal basis for accounting regulations. Additionally, it discusses the Unified Accounts Code Structure and the Revised Chart of Accounts, emphasizing the importance of accurate financial management in government operations.
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0% found this document useful (0 votes)
154 views22 pagesGov Acc - Sagutan C1 C5
The document contains multiple-choice questions related to government accounting, budgeting, and financial reporting standards in the Philippines. It covers various topics including the roles of different government agencies, accounting systems, and the legal basis for accounting regulations. Additionally, it discusses the Unified Accounts Code Structure and the Revised Chart of Accounts, emphasizing the importance of accurate financial management in government operations.
Uploaded by
Jhenny Mae DeduyoCopyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF or read online on Scribd
-_—
Chapter 1 — General Provisions, Basle Standards and Policies 17
Multiple Choice
1, 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.
‘a. Government auditing,
b. Government budgeting
Government accounting
National government
2, Which is not charged with the government accounting responsibility?
Commission on Audit
b. Department of Budget and Management
c. National Government Agencies
d Legislative Department
3. What is the role of the Bureau of Treasury 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. Tokeep the general accounts of the national government.
4. To prepare the annual financial report of the national government, its
instrumentalities and government-owned or controlled corporations.
4, What is the legal basis of the Commission on Audit in promulgating accounting,
and auditing rules and regulations?
a. PD 1445
b- Constitution of the Republic of the Philippines
COA Circular No. 2002-003
d. PD 1445 and the Constitution of the Republic of the Philippines
45. According to COA Cir. No. 2013-002 dated January 30, 2013, the New
Government Accounting System, effective January 1, 2014, uses a standard chart
of accounts with
a. Three digits
b.. Four digits
©. Fivedigits
d. Eight digits jandards anal Policy,
ar 1 General PPO sions, Basic
Chapter 1G
8.
to record, in time sequence, Financia,
; ) shall be used Fi a
6. The books of original entry ested in duly certified and approved 2couning
tasters and informal ES rocrding the Hane) (NANOS i te
documents. What is
journals? ;
a, Journal Entry Voucher
p. Joural of Checks Issued
¢. Journal and Analysis of Obligations
d. Journal of Bills Rendered
ion i it of Budget and Management to
. This is jrization issued by the 3
T paseo agencies to withdraw cash from the Naicoali Trey through the
sevance of Modified Disbursement System checks or other autnort made of
disbursements.
a, Allotment
'b, MDS Checks
c. Notice of Cash Allocation
d. Appropriation
8. The Department of Budget and Management, Department ‘of Finance, Bureau of
Treasury, and Commission on Audit 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?
a. Department of Budget and Management
b. Department of Finance
c. Bureau of Treasury
d, Commission on Audit
9. The Department of Budget and Management, Department of Finance, Bureau of
Treasury, and Commission on Audit are collectively responsible for the Unified
Accounts Code Structure (UACS). Who is responsible for the consistency of
account classification and coding structure with the Revised Chart of Accounts?
a, Department of Budget and Management
'b. Department of Finance
c. Bureau of Treasury
4. Commission on Audit Chapter |--General Provisions, Basic Standards and Policies
19
10. The Department of Budget and Management, Department of Finance, Bureau of
Treasury. and Commission on Audit 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?
Department of Budget and Management
Department of Finance — Bureau of Treast
Commission on Audit .
All of them are responsible.
poelse
11. The International Public Sector Accounting Standards (IPSAS) shall be applied
to the following, except:
a. National Government Agencies
b. Government Business Enterprises
c. Local Government Units
d. —Government-Owned and/or Controlled Corporations
12, Its function is to assist the Commission on Audit in formulating and
implementing International Public Sector Accounting Standards (IPSAS),
a. Board of Accountancy
b. Philippine Institute of Certified Public Accountants
c. Public Sector Accounting Standards Board
4. Philippine Accounting Standards Committee
13. This registry shall be maintained by fund cluster by the Budget Division/Unit of
each government entity to ensure that allotment releases are within the
authorized appropriation.
a. Registry of Allotment and Notice of Allocation.
b. Registry of Appropriations and Allotments
c. Registry of Budget, Utilization and Disbursements
d. Registry of Allotments, Obligations and Disbursements
14, This registry shall be maintained by Appropriation Act, by Fund Cluster, by
Major Fund Output or Program/Activity/Project for personnel services.
a Repiaty of Allotments, Obligations and Disbursements — Personnel
rvices 1 General Provisions,
hater =
Utilizations
Basie Standards and Pj,
les
f Budget, and Disbursements ~ Personne,
b. Registry of Budget,
©. reget of Allotments and Notice of ‘Transfer of Allocations
Sect of Revenue and Other Receipts
15. this Ran hall be used by the originating offices, in the Wilation of thi
7 approved budget allocation for off-budgetary and custodial funds, such 4.
SAGF, Internally Generated Funds.
‘a. Budget Utilization Request Status
b. Obligation Request Status .
c Note of Budget Utilization Request and Status Adjorn ey
d. Registry of Revenue and Other Receipts — Internally Generated
Funds/Business Related Funds.
16. It refers to an accounting entity for recording expenditures and Tevenue
associated with a specific activity for which accounting records are maintained
and periodic reports are prepared.
a. Financial accounting and reporting
b. Public sector accounting and reporting
c. Fund cluster a¢counting
d. Responsibility accounting
17. It is the accrual or cash basis of accounting as defined in the accrual basis and
cash basis International Public Sector Accounting Standards (IPSAS),
a. Accounting basis
b. Accounting policy
c. Accounting standards
d. Modified accrual basis
. This journal shall be maintained by fund cluster. Only the transactions not
recorded in the Special Joumnals shall be recorded in this journal.
a. General journal
b. Cash disbursements journal
©. Check disbursements journa!
d. Advice to debit account disbursements journal =
Chapter 1 —Gener il Provisions, Basic Standards and Policies 24
19. COA Circular 2021-004 provides which one of the following implementing
guidelines renaming PPSAS to IPSAS?
BAIL NGAS, including SUCs, except Government Corporation are
covered by the circular.
b. The term IPSAS shall be used in lieu of PPSAS in all financial
statements and reports, issuance and communications.
¢. Any new/subsequent issuance adopting new IPSAS are not covered by
this circular, therefore shall not be implemented accordingly.
d. Alloftthe above rhe Unified Account
snapter 2 The Unified Ace CO Sy,
32 ____——
Multiple Choice
One of the key element
Funding Source Codes.
odes?
eke ‘ised Chart of Accounts
b. Financing Source
¢. Authorization
4. Fund Category
is a nine-digit code to reflect different area following
* Philpine Strdad Geographic Code prescribed by the National Stats
Coordination Board. Which of the following area is covered by the
Location Codes under UACS?
a. Provinee
b. Municipality
©. Barangay
d. Street
Structure (UAC, ,
ified Accounts Codes CS) ji
ns of Uni following is NOT part of Funding Sue’
3. Organization Codes is one of the key elements of Unified Accounts Codes
Structure (UACS). Which of the following is Not one of those reflected by this
element?
a. Department
b. Agency
©. Operating Unit f
4. Government-Owned and Controlled Corporation
4. For purposes of Unified Accounts Codes Structure (ACS), Constitutional
Offices, the Judiciary and the Legislature are categorized as:
a. Lower-level operating unit
b. Sub-agency
©. Agency
d. Department
5. It is an integrated grow of activities contril agency
department's continuing objective sg eee :
a. Major Final Output (MFO)
b. Program
©. Activity
d. Project Chapter 2 = The Unified Accounts Code Structure
6.
53
Ce eaTe Cocoa of the govemment, incliding an office
ees faba may net approximate the size of a department, but
nonefholess de in : are equally important and whose area of
‘a. Central Office
b. Operating Unit
©. Agency
4. Bureau
According to Joint Circular No. 2013-1 dated August 6, 2013, the following
departments jointly developed the Unified Accounts Code Structure (UACS),
a. Department of Budget and Management
b. Joint Legislative-Executive Council
c. Department of Finance
d. Commission on Audit
. It is a political corporate unit of government which serves as a dynamic
mechanism for developmental processes and effective governance of local
government units within its territorial jurisdiction.
‘a. Region
b. Province
c. Municipality
d, Barangay
. It is the fund available for any purpose that Congress may choose to apply and
‘composed of all receipts or revenues that do not otherwise accrue to other funds.
a, Custodial fund
b. General fund
c. -Off-budgetary fund
d. Revolving fund
. These are annual authorization for incurring obligations, in terms of specific
‘amounts for Personnel Services, Maintenance and Other Operating Expenses,
Financial Expenses, and Capital Outlays during a specified budget year, as listed
in the General Appropriations Act.
a. Automatic appropriations shapter 3 — The Revised Chart of Accounts
cee u3
Multiple Choice
It represents the accounts classification as to iabilitic ity, in
= assets, liabilities, equity, income and
a. Code
b. Account group
¢. Major account group
d. Sub-major account group
1.
It represents classification within account group, e.g. for asset major account:
2
cash and cash equivalent, etc.
‘a. Major account group
b. Sub-major account group
c. General ledger accounts
d. General ledger contra accounts
3. Which of the following is a sub-major account group in a Revised Chart of
‘Accounts?
a. Cash on hand
b. Cash and cash equivalent
c. Asset
d._ Petty cash
4. Which of the following is INTER-AGENCY receivable in the Revised Chart of
Accounts?
a. Due from joint venture :
Due from Non-government Organization/People’s Organization
b.
c. Due from Bureaus
d. Due from Central Office
. Which of the following is INTRA-AGENCY receivable in the Revised Chart of
Accounts?
a. Due from Operating Units
Other Receivables
Due from Government-Owned and Controlled Corporations
Due from Local Government Units
5.
b.
cs
d.
6 Which of the following is NOT Personnel Services?
a. Labor and wages
b. Salaries and wages — Regular jer 3- The Revised Chart of Aecouny
i ee ried
jion benefits
a Somingfunifon allowance
cconding to the Revised Chart of Accounts per COA Circular 2013-002, which
on ithe following is an Account Group?
&. Assets account
b. Investments account
¢. Cash in Bank — Local Currency
d. Treasury Bills :
=
According tothe Revised Chart of Accounts per COA Circular 2013-002, which
of the following is a Major Account Group?
a. Liabilities account
b. Cash and cash equivalent
©. Loans and receivables account
4. Sinking fund
9. According to the Revised Chart of Accounts per COA Circular 2013-002, which
of the following is a Sub-Major Account Group?
a. Financial assets held for trading
b. Allowance for impairment
¢. Financial assets at fair val
d. Investment
— Investment in treasury bonds
lue through surplus or deficit
10. What is the basis for coding the object classification in the COA Revised Chart
of Accounts?
a. Accrual basis
b. Modified accrual basis
©. Cash basis
4. Modified cash basis Chapter 4 Accounting for Budgetary Accounts
161
Multiple Choice
It is the system of prescribing ce
el atee obligations the procedures for recording, appropriations,
a, Fund accounting
b, Budgetary accounting
c. Obligation accounting.
d, Government accounting,
. Its main concern is the avaitabilit
a. Commission on Audit
b. Department of Finance
c. Bureau of Treasury
4. National Budgetary System
'y and use of funds for public services.
It is a statement of estimated receipts and estimated expenses of the government,
which serves as basis for a General Appropriation Act.
a. _ Statement of financial position
b. Statement of operations
c.. National government budget
d. Local government budget
4. Which department prepares the national budget, which serves as the basis of the
General Appropriation Act?
a. Executive Department
b. Legislative Department
c. Judiciary Department
d. National Government Agencies/units
5. It is the legislative consideration, review and approval of the national budget.
a. Preparation
b. Authorization
c. Execution
d. Accountability
6. It is the implementation of the national budget by different departments and
release of allotments.
a. Budget preparation
b. Budget authorization
c. Budget execution Chapter 4- Accounting for Budgeta A
e«
162
a bad get accountability
. the responsibility t0 others that one or more persons have fo, the;
% actions and behavior. ; 7
a.
