QUI
Z1:PUBLI
CACCOUNTI
NGANDBUDGETI
NG
1. Whi
choft
hef
ol
l
owi
ngr
ecor
dsi
st
echni
cal
l
ynotconsi
der
edanaccount
i
ngbook?
a. Gener
al
Jour
nal
b. Subsi
di
ar
yLedger
c. CashDi
sbur
sement
sJour
nal
d. Regi
st
r
yofAppr
opr
i
at
i
onsandAl
l
ot
ment
s
2. Whi
choft
hef
ol
l
owi
ngi
s(
ar
e)af
f
ect
edwhenagov
er
nmentent
i
t
yi
ncur
sobl
i
gat
i
ons?
a. ORS
b. RAPAL
c. RAOD
d. aandc
3. Whi
choft
hef
ol
l
owi
ngi
s(
ar
e)af
f
ect
edwhenagov
er
nmentent
i
t
ymakesdi
sbur
sement
st
o
set
t
l
er
ecor
dedobl
i
gat
i
ons?
a. ORS
b. RAOD
c. Jour
nal
andLedger
d. Al
l
oft
hese
4. Whi
choft
hef
ol
l
owi
ngaccount
si
smostl
i
kel
ycr
edi
t
edwhenagov
er
nmentent
i
t
yr
emi
t
si
t
s
col
l
ect
i
onst
ot
heNat
i
onal
Tr
easur
y
?
a. CashTaxRemi
t
t
anceAdv
i
ce
b. CashModi
f
i
edDi
sbur
sementSy
st
em (
MDS)
,
Regul
ar
c. CashTr
easur
y
/
AgencyDeposi
t
,
Regul
ar
d. Cash–Col
l
ect
i
ngOf
f
i
cer
s
5. Thi
sev
enti
sr
ecor
dedi
nt
hebooksofaccount
s.
a. Not
i
ceofAppr
opr
i
at
i
on
b. Not
i
ceofAl
l
ot
ment
c. Not
i
ceofCashAppr
opr
i
at
i
on
d. Cl
osi
ngent
r
i
es
6. Ther
ecei
ptofal
l
ot
menti
sr
ecor
dedi
nt
he
a. RAPAL
b. RAOD
c. ORS
d. aandb
7. Accor
di
ngt
ot
heGAM f
orNGAs,
t
heRegi
st
r
i
esar
e(
chooset
hei
ncor
r
ectst
at
ement
)
a. mai
nt
ai
nedbyt
heaccount
i
nguni
tofagov
er
nmentent
i
t
y
b. mai
nt
ai
nedbyf
undcl
ust
er
c. mai
nt
ai
nedf
oreachobj
ectofexpendi
t
ur
e,whenev
ert
her
egi
st
r
yi
susedf
ormoni
t
or
i
ng
obl
i
gat
i
onsanddi
sbur
sement
s
d. mai
nt
ai
nedbyt
hebudgetdi
v
i
si
onofagov
er
nmentent
i
t
y
8. The8di
gi
tRev
i
sedChar
tofAccount
s(
RCA)Codef
ort
heaccount“
Subsi
dyf
r
om Nat
i
onal
Gov
er
nment
”st
ar
t
swi
t
hnumber
a. 2
b. 3
c. 4
d. 6
9. Whi
choft
hef
ol
l
owi
ngi
snotaf
or
m ofdi
sbur
sementaut
hor
i
t
y
?
a. Al
l
ot
ment
b. Not
i
ceofCashAl
l
ocat
i
on
c. NonCashAv
ai
l
mentAut
hor
i
t
y
d. CashDi
sbur
sementCei
l
i
ng
10.TheNCAi
sr
ecor
dedi
nt
he
a. Regi
st
r
yofAl
l
ot
ment
sandNot
i
ceofCashAl
l
ocat
i
on(
RANCA)
.
b. Booksofaccount
s(
Jour
nal
andLedger
)
c. Obl
i
gat
i
onRequestandSt
at
us(
ORS)
d. aandb
QUI
Z:
11.Whi
choft
hef
ol
l
owi
ngappr
oachest
obudgetpr
epar
at
i
onpr
ov
i
dest
hebesti
nt
er
nal
cont
r
ol
?
a. I
ncr
ement
al
budget
i
ng
b. Zer
osum budget
i
ng
c. Topdownbudget
i
ng
d. Zer
obasedbudget
i
ng
12.Thi
sappr
oacht
obudget
i
ngr
equi
r
est
hej
ust
i
f
i
cat
i
onofi
t
emsi
nt
hebudgeti
r
r
espect
i
v
eof
whet
hert
heyar
eneworcar
r
i
edov
erf
r
om t
hepr
ev
i
ousy
ear
.
a. Zer
obasedbudget
i
ng
b. Bot
t
omsupbudget
i
ng
c. I
ncr
ement
al
budget
i
ng
d. Bot
t
omsdownbudget
i
ng
13.Whi
choft
hef
ol
l
owi
ngi
scor
r
ectr
egar
di
ngzer
obasedbudget
i
ng?
a. Sev
er
alpar
t
i
espar
t
i
ci
pat
ei
nt
hebudgetpr
epar
at
i
onst
ar
t
i
ngf
r
om t
hel
owestl
ev
el
soft
he
gov
er
nmentt
ot
hehi
ghestl
ev
el
s.
b. Al
l
zer
oesi
nt
hebudgetar
eomi
t
t
ed.
c. Al
lpr
oposedpr
ogr
amsandexpendi
t
ur
esi
nt
heupcomi
ngy
earmustbenew.Pr
ogr
amsand
expendi
t
ur
esi
nt
hepr
ev
i
ousy
earshoul
dnev
erbecar
r
i
edov
ert
ot
henexty
ear
.
d. Thecur
r
enty
ear
’
sbudgeti
sf
or
mul
at
edwi
t
houtr
egar
dt
ot
hepr
ev
i
ousy
ear
’
sbudget
.
14.Whi
choft
hef
ol
l
owi
ngwoul
dmostl
i
kel
ycomesf
i
r
sti
nt
hebudgetpr
ocess?
a. Budgetaccount
abi
l
i
t
yr
epor
t
b. Pr
esi
dent
’
senact
mentoft
hebudget
c. Pr
esent
at
i
ont
ot
heOf
f
i
ceoft
hePr
esi
dent
d. BudgetCal
l
f
r
om t
heDBM
15.Whi
choft
hef
ol
l
owi
ngwoul
dmostl
i
kel
ycomesl
asti
nt
hebudgetpr
ocess?
a. Budgetaccount
abi
l
i
t
yr
epor
t
s
b. Al
l
ot
ment
c. Di
sbur
sement
s
d. Per
f
or
mancer
ev
i
ew
16.Ent
i
t
yA,agov
er
nmentent
i
t
y
,r
ecei
v
esaut
hor
i
zat
i
ont
odi
sbur
sef
undsnott
oexceed₱1Bi
na
speci
f
i
edper
i
od.
Thi
sev
entcanbedescr
i
bedas
a. Not
i
ceofCashAl
l
ocat
i
on
b. Al
l
ot
ment
c. Appr
opr
i
at
i
on
d. Adont
knowcat
i
on
17.Ent
i
t
yA,agov
er
nmentent
i
t
y
,r
ecei
v
esnot
i
cet
hatoutofi
t
s₱10Bappr
ov
edbudgetf
ort
hey
ear
,
Ent
i
t
yAcani
ncurobl
i
gat
i
onsupt
o₱4Bi
nt
hef
i
r
stquar
t
er
.Thi
sev
entcanbedescr
i
bedas
a. Not
i
ceofCashAl
l
ocat
i
on
b. Al
l
ot
ment
c. Appr
opr
i
at
i
on
d. Amnot
sur
ecat
i
on
18.Ent
i
t
yA,agov
er
nmentent
i
t
y
,r
ecei
v
esnot
i
cet
hatf
ort
hecur
r
enty
ear
,t
hemaxi
mum amounti
t
canspendonmai
nt
enanceandot
heroper
at
i
ngexpensesi
s₱10B.Thi
sev
entcanbedescr
i
bed
as
a. Not
i
ceofCashAl
l
ocat
i
on
b. Al
l
ot
ment
c. Appr
opr
i
at
i
on
d. Budget
i
cat
i
on
19.Af
t
err
ecei
v
i
ng i
t
s obl
i
gat
i
onalaut
hor
i
t
y amount
i
ng t
o ₱4B,Ent
i
t
y A ent
er
si
nt
o bi
ndi
ng
agr
eement
sf
ort
heev
ent
ualpay
ment
sofat
ot
alsum of₱3B.The“
₱3B”ev
entcanbedescr
i
bed
as
a. Di
sbur
sement
b. Al
l
ot
ment
c. Di
sbur
sementaut
hor
i
t
y
d. Obl
i
gat
i
on
20.I
ti
sapar
t
,segment
,uni
torf
unct
i
onofagov
er
nmentagency
,
headedbyamanager
,whoi
s
account
abl
ef
oraspeci
f
i
edsetofact
i
v
i
t
i
es.
a. Responsi
bi
l
i
t
yAccount
i
ng
b. Responsi
bi
l
i
t
yCent
er
c. BudgetCent
er
d. Cal
l
Cent
er
QUI
Z
21.Agov
er
nmentent
i
t
yr
ecogni
zesr
ev
enuef
r
om exchangeornonexchanget
r
ansact
i
ons.Whi
chof
t
hef
ol
l
owi
ngmaynotgi
v
er
i
set
or
ev
enuebyagov
er
nmentent
i
t
y
?
a. Recei
ptofmi
l
i
t
ar
yequi
pmentasdonat
i
onf
r
om af
or
ei
gngov
er
nment
.
b. Recei
ptofcashdonat
i
onf
r
om ani
nt
er
nat
i
onal
or
gani
zat
i
on.
c. Recei
ptoff
r
eet
r
ai
ni
ngsandsemi
nar
sr
egar
di
ngpr
ocesst
echnol
ogyonf
ar
mi
ngf
r
om an
i
nt
er
nat
i
onal
or
gani
z
at
i
on.
d. Recei
ptofabequestf
r
om t
heki
ngofaf
or
ei
gnr
eal
m.
22.Al
l
oft
hef
ol
l
owi
nggi
v
er
i
set
ot
her
ecogni
t
i
onofr
ev
enuef
r
om nonexchanget
r
ansact
i
onexcept
a. sal
eofgoods
c.f
i
nesandpenal
t
i
es
b. t
ax
es
d.donat
i
onofgoodsi
nki
nd
23.Accor
di
ngt
oP.
D.1445,al
lr
ev
enuesofanent
i
t
yshal
lber
emi
t
t
edt
ot
heNat
i
onalTr
easur
yand
i
ncl
udedi
nt
he
a. Gener
al
Fund
c.Nat
i
onal
Fund
b. Speci
al
Fund
d.Of
f
i
ci
al
Fund
24.Remi
t
t
ancesofcol
l
ect
i
onst
ot
heNat
i
onalTr
easur
yar
er
ecor
dedasadebi
tt
owhi
choft
he
f
ol
l
owi
ngaccount
s
a. Cash–Col
l
ect
i
ngOf
f
i
cer
s
b. CashTr
easur
y
/
AgencyDeposi
t
,
Regul
ar
c. CashModi
f
i
edDi
sbur
sementSy
st
em (
MDS)
,
Regul
ar
d. Subsi
dyf
r
om Nat
i
onal
Gov
er
nment
25.Thenat
i
onalgov
er
nmentr
ecei
v
edaf
or
ei
gngr
antcondi
t
i
onedont
heconst
r
uct
i
onofapubl
i
c
i
nf
r
ast
r
uct
ur
e.Ent
i
t
yAwaschosenast
hei
mpl
ement
i
ngagency
.Whent
henat
i
onalgov
er
nment
r
ecei
v
edt
hegr
ant
,
t
heent
r
yi
nt
heBTr
’
sbooksi
ncl
udeda
a. cr
edi
tt
ot
he“
Subsi
dyf
r
om Nat
i
onal
Gov
er
nment
”account
.
b. debi
tt
ot
he“
Cash–Modi
f
i
edDi
sbur
sementSy
st
em (
MDS)
,
Regul
ar
”account
.
c. cr
edi
tt
ot
he“
Cashi
nBankLocal
Cur
r
ency
,
BangkoSent
r
al
ngPi
l
i
pi
nas”account
.
d. cr
edi
tt
ot
he“
Ot
herDef
er
r
edCr
edi
t
s”account
.
26.Att
heendoft
heper
i
od,
t
he“
CashTr
easur
y
/
AgencyDeposi
t
,
Regul
ar
”accounti
scl
osedt
ot
he
a. Subsi
dyf
r
om Nat
i
onal
Gov
er
nmentaccount
.
b. Accumul
at
edSur
pl
usorDef
i
ci
taccount
.
c. CashModi
f
i
edDi
sbur
sementSy
st
em (
MDS)
,
Regul
araccount
.
d. Thi
saccounti
snotcl
osed.
27.Whi
choft
hef
ol
l
owi
ngdoesnotgi
v
er
i
set
or
ev
enuef
r
om assi
st
anceorsubsi
dy
?
a. I
nt
er
agencyFundTr
ansf
er
b. Not
i
ceofCashAl
l
ocat
i
on
c. TaxRemi
t
t
anceAdv
i
ce
d. NonCashAv
ai
l
mentAut
hor
i
t
y
28.Accor
di
ngt
oP.
D.1445,
a. Amount
sr
ecei
v
edi
nt
r
ustandf
r
om busi
nesst
y
peact
i
v
i
t
i
esoft
hegov
er
nmentmaybe
separ
at
el
yr
ecor
ded.
b. Al
lr
ev
enuesofanent
i
t
yshal
lber
et
ai
nedbyt
heent
i
t
yandi
ncl
udedi
ni
t
sGener
alFund,
unl
essanot
herl
awspeci
f
i
cal
l
yal
l
owsot
her
wi
se.
c. Acol
l
ect
i
ngof
f
i
cershal
li
mmedi
at
el
yi
ssueat
empor
ar
yr
ecei
ptuponcol
l
ect
i
ngapay
mentof
anynat
ur
e.
d. Wher
emechani
caldev
i
ces(
e.
g.el
ect
r
oni
cof
f
i
ci
alr
ecei
pt
)ar
eusedt
oacknowl
edgecash
r
ecei
pt
s,t
heBI
Rmayappr
ov
e,uponr
equest
,t
heexempt
i
onf
r
om t
heuseofaccount
abl
e
f
or
ms.
29.Accor
di
ngt
ot
heGAM f
orNGAs,r
ev
enuei
ncl
udesonl
yt
hoset
hatar
er
ecei
v
edorr
ecei
v
abl
eby
t
heent
i
t
yi
ni
t
sownaccount
.Accor
di
ngl
y
,
r
ecei
pt
sonbehal
fofanot
herent
i
t
yar
e
a. r
ecor
dedasl
i
abi
l
i
t
y
.
b. r
ecogni
z
edasr
ev
enue.
c. r
ecor
dedonl
yi
nt
her
egi
st
r
i
esbutnoti
nt
hebooksofaccount
s.
d. r
emi
t
t
edonl
yt
hr
ought
heuseoft
heTRA.
30.Gov
er
nmentent
i
t
i
esandbusi
nessent
i
t
i
esuset
hesameaccount
i
ngt
r
eat
mentf
oral
loft
he
f
ol
l
owi
ngex
cept
a. t
r
adedi
scount
sal
l
owedt
ocust
omer
s.
b. r
ecogni
z
i
ngr
ev
enuef
r
om r
oy
al
t
yagr
eement
s.
c. r
ecogni
z
i
ngr
ev
enuef
r
om di
v
i
dends.
d. r
emi
t
t
anceoft
axeswi
t
hhel
dt
ot
heBI
R
QUI
Z:
31.I
t encompasses t
he pr
ocesses of anal
y
zi
ng,r
ecor
di
ng,cl
assi
f
y
i
ng,summar
i
zi
ng and
communi
cat
i
ngal
lt
r
ansact
i
onsi
nv
ol
v
i
ngt
her
ecei
ptanddi
sposi
t
i
onofgov
er
nmentf
undsand
pr
oper
t
y
,
andi
nt
er
pr
et
i
ngt
her
esul
t
st
her
eof
.
a. Gov
er
nmentaccount
i
ng
b. Gov
er
nmentr
epor
t
i
ng
c. Gov
er
nmentaudi
t
i
ng
d. Taxaccount
i
ng
32.TheGAM f
orNGAsi
spr
omul
gat
edbyt
he
a. Commi
ssi
ononAccount
i
ng(
COA)
b. Commi
ssi
ononAudi
t(
COA)
c. Boar
dofAccount
ancy(
BOA)
d. Bur
eauofI
nt
er
nal
Rev
enue(
BI
R)
33.TheCommi
ssi
ononAudi
t(
COA)i
sr
esponsi
bl
ef
or
a. t
hef
or
mul
at
i
onandi
mpl
ement
at
i
onoft
henat
i
onalbudgetwi
t
ht
hegoalofat
t
ai
ni
ngt
he
nat
i
on’
ssoci
oeconomi
cobj
ect
i
v
es.
b. r
ecei
v
i
ng and keepi
ng nat
i
onalf
undsand managi
ng and cont
r
ol
l
i
ng t
hedi
sbur
sement
s
t
her
eof
.
c. di
r
ect
l
yi
mpl
ement
i
ngt
hepr
oj
ect
soft
hegov
er
nment
.
d. pr
omul
gat
i
ngaccount
i
ngandaudi
t
i
ngr
ul
esandr
egul
at
i
ons.
34.Whi
choft
hef
ol
l
owi
ngi
snotchar
gedwi
t
hgov
er
nmentaccount
i
ngr
esponsi
bi
l
i
t
y
?
a. Commi
ssi
ononAudi
t
b. Bur
eauofI
nt
er
nal
Rev
enue
c. Nonst
ock,
nonpr
of
i
tpr
i
v
at
ehospi
t
al
d. Depar
t
mentofBudgetandManagement
35.Whi
choft
hef
ol
l
owi
ngqual
i
t
at
i
v
echar
act
er
i
st
i
csmaybesacr
i
f
i
cedwhenr
epor
t
i
ngi
nf
or
mat
i
on
onat
i
mel
ybasi
s?
a. Rel
ev
ance
b. Rel
i
abi
l
i
t
y
c. Subst
anceov
erf
or
m
d. Fai
t
hf
ul
r
epr
esent
at
i
on
36.Accor
di
ngt
ot
heGAM f
orNGAs,i
nf
or
mat
i
onhast
hi
squal
i
t
at
i
v
echar
act
er
i
st
i
ci
fi
tcanbeused
t
o assi
sti
n ev
al
uat
i
ng past
,pr
esentorf
ut
ur
e ev
ent
sori
n conf
i
r
mi
ng orcor
r
ect
i
ng past
ev
al
uat
i
ons.
a. Feedbackv
al
ue
b. Pr
edi
ct
i
v
ev
al
ue
c. Mat
er
i
al
i
t
y
d. Rel
ev
ance
37.Thi
sr
ef
er
st
ot
hecompar
abi
l
i
t
ybet
weent
hef
i
nanci
al
st
at
ement
sofdi
f
f
er
entent
i
t
i
es?
a. I
nt
er
compar
abi
l
i
t
y
b. I
nt
r
acompar
abi
l
i
t
y
c. Hor
i
zont
al
compar
abi
l
i
t
y
d. Ver
t
i
cal
compar
abi
l
i
t
y
38.Whent
hesubst
anceofat
r
ansact
i
onorev
entdi
f
f
er
sf
r
om i
t
sl
egalf
or
m,
t
heent
i
t
yshoul
dr
epor
t
t
het
r
ansact
i
on’
sorev
ent
’
s
a. subst
ance
b. l
egal
f
or
m
c. at
r
adeof
fbet
weenaandb
d. ei
t
heraorb,
basedont
hei
rsi
gni
f
i
cance
39.Thei
mpl
i
cat
i
ont
hatuser
smustbei
nf
or
medoft
heent
i
t
y
’
spol
i
ci
es,changest
ot
hosepol
i
ci
es,
andt
heef
f
ect
soft
hosechangesr
ef
er
st
o
a. Compar
abi
l
i
t
y
b. Compl
et
eness
c. Under
st
andabi
l
i
t
y
d. Rel
i
abi
l
i
t
y
40.I
nt
hef
i
nanci
alr
epor
t
i
ngsy
st
em oft
henat
i
onalgov
er
nment
,t
owhi
choft
hef
ol
l
owi
ngshal
lan
ent
i
t
yr
econci
l
esi
t
scashr
ecor
ds?
a. Commi
ssi
ononAudi
t
b. Bur
eauofTr
easur
y
c. Depar
t
mentofBudgetandManagement
d. Of
f
i
ceoft
hePr
esi
dent