Multiple Choice
10. This refers to the amount granted on the explicit authority of the Head of the
Agency only to duly designated disbursing officers or employees for other legally
authorized purposes, such as payment of current operating expenditures, including
salaries, wages and allowances, travel expenditures, and maintenance and other
operating expenses, of the agency field office or for special purpose/time-bound
undertaking of the agency when it is impractical to pay the same by check.
1 point
A. Finance lease
B. Special cash advance
C. Advances to officers and employees
D. Due from officers and employees
E. Commercial check
F. Accumulated Surplus/deficit
G. Cash Disbursement Ceiling
H. Advances to special disbursing officers
I. Cash advance register
J. Cash - MDS, regular
K. Non-cash availment authority
L. Notice of Transfer Allocation
M. Taxes
N. Advances for payroll
O. Operating lease
P. Petty operating expenses
Q. Tax Remittance Advice
R. Cash disbursement register
S. Advice to Debit Account
T. MDS Check
U. Cash advances for travel
V. LDDAP-ADA
W. Advances to regular disbursing officers
X. Notice of Cash Allocation
Y. Penalties
9. These economic benefits or service potential compulsory paid or payable to public
sector agencies, in accordance with laws and or regulations, established to provide
revenue to the government.
1 point
A. Finance lease
B. Special cash advance
C. Advances to officers and employees
D. Due from officers and employees
E. Commercial check
F. Accumulated Surplus/deficit
G. Cash Disbursement Ceiling
H. Advances to special disbursing officers
I. Cash advance register
J. Cash - MDS, regular
K. Non-cash availment authority
L. Notice of Transfer Allocation
M. Taxes
N. Advances for payroll
O. Operating lease
P. Petty operating expenses
Q. Tax Remittance Advice
R. Cash disbursement register
S. Advice to Debit Account
T. MDS Check
U. Cash advances for travel
V. LDDAP-ADA
W. Advances to regular disbursing officers
X. Notice of Cash Allocation
Y. Penalties
7. This serves as instruction to the Modified Disbursement System, Government
Servicing Banks (MDS-GSBs) to debit a specified amount from its available NCA
balance under regular MDS sub-account for payment of creditors/payees through the
Expanded Modified Disbursement Payment Scheme.
1 point
A. Finance lease
B. Special cash advance
C. Advances to officers and employees
D. Due from officers and employees
E. Commercial check
F. Accumulated Surplus/deficit
G. Cash Disbursement Ceiling
H. Advances to special disbursing officers
I. Cash advance register
J. Cash - MDS, regular
K. Non-cash availment authority
L. Notice of Transfer Allocation
M. Taxes
N. Advances for payroll
O. Operating lease
P. Petty operating expenses
Q. Tax Remittance Advice
R. Cash disbursement register
S. Advice to Debit Account
T. MDS Check
U. Cash advances for travel
V. LDDAP-ADA
W. Advances to regular disbursing officers
X. Notice of Cash Allocation
Y. Penalties
14. These are checks issued by government agencies chargeable against the account
of the Treasurer of the Philippines, which are maintained with different MDS-GSBs
1 point
A. Finance lease
B. Special cash advance
C. Advances to officers and employees
D. Due from officers and employees
E. Commercial check
F. Accumulated Surplus/deficit
G. Cash Disbursement Ceiling
H. Advances to special disbursing officers
I. Cash advance register
J. Cash - MDS, regular
K. Non-cash availment authority
L. Notice of Transfer Allocation
M. Taxes
N. Advances for payroll
O. Operating lease
P. Petty operating expenses
Q. Tax Remittance Advice
R. Cash disbursement register
S. Advice to Debit Account
T. MDS Check
U. Cash advances for travel
V. LDDAP-ADA
W. Advances to regular disbursing officers
X. Notice of Cash Allocation
Y. Penalties
3. This is a kind of lease transfers substantially all the risks and rewards incident to
ownership of an asset
1 point
A. Finance lease
B. Special cash advance
C. Advances to officers and employees
D. Due from officers and employees
E. Commercial check
F. Accumulated Surplus/deficit
G. Cash Disbursement Ceiling
H. Advances to special disbursing officers
I. Cash advance register
J. Cash - MDS, regular
K. Non-cash availment authority
L. Notice of Transfer Allocation
M. Taxes
N. Advances for payroll
O. Operating lease
P. Petty operating expenses
Q. Tax Remittance Advice
R. Cash disbursement register
S. Advice to Debit Account
T. MDS Check
U. Cash advances for travel
V. LDDAP-ADA
W. Advances to regular disbursing officers
X. Notice of Cash Allocation
Y. Penalties
19. Statement 1: When an item of Property, plant and equipment (PPE) is purchased
on account subject to a cash discount, the discount is deducted only when taken.
Statement 2: If an exchange transaction lacks commercial substance, the exchange is
recognized at carrying amount and the corresponding gain or loss on exchange is
recognized.
1 point
A. Only statement 1 is true
B. Only statement 2 is true
C. Both statements are true
D. Both statements are false
18. Statement 1: Fair value is the cost the entity would incur to acquire the inventory
on the reporting date Statement 2: Semi-expendable property which were recognized
as Property, plant and equipment shall be recognized as expenses upon issue to the
end users
1 point
A. Only statement 1 is true
B. Only statement 2 is true
C. Both statements are true
D. Both statements are false
12. This shall be the authority of an agency to pay operating expenses, purchases of
supplies and materials, acquisition of PPE, accounts payable, and other authorized
disbursements through the issue of MDS checks, ADA or other modes of
disbursements.
1 point
A. Finance lease
B. Special cash advance
C. Advances to officers and employees
D. Due from officers and employees
E. Commercial check
F. Accumulated Surplus/deficit
G. Cash Disbursement Ceiling
H. Advances to special disbursing officers
I. Cash advance register
J. Cash - MDS, regular
K. Non-cash availment authority
L. Notice of Transfer Allocation
M. Taxes
N. Advances for payroll
O. Operating lease
P. Petty operating expenses
Q. Tax Remittance Advice
R. Cash disbursement register
S. Advice to Debit Account
T. MDS Check
U. Cash advances for travel
V. LDDAP-ADA
W. Advances to regular disbursing officers
X. Notice of Cash Allocation
Y. Penalties
5. This register is maintained by Government Units without complete set of books to
record, monitor and report transactions involving the grant, utilization and liquidation of
cash advances.
1 point
A. Finance lease
B. Special cash advance
C. Advances to officers and employees
D. Due from officers and employees
E. Commercial check
F. Accumulated Surplus/deficit
G. Cash Disbursement Ceiling
H. Advances to special disbursing officers
I. Cash advance register
J. Cash - MDS, regular
K. Non-cash availment authority
L. Notice of Transfer Allocation
M. Taxes
N. Advances for payroll
O. Operating lease
P. Petty operating expenses
Q. Tax Remittance Advice
R. Cash disbursement register
S. Advice to Debit Account
T. MDS Check
U. Cash advances for travel
V. LDDAP-ADA
W. Advances to regular disbursing officers
X. Notice of Cash Allocation
Y. Penalties
15. These advances shall be granted to Regular Disbursing Officers for payment of
salaries, wages, honoraria, allowances and other personnel benefits of officials and
employees
1 point
A. Finance lease
B. Special cash advance
C. Advances to officers and employees
D. Due from officers and employees
E. Commercial check
F. Accumulated Surplus/deficit
G. Cash Disbursement Ceiling
H. Advances to special disbursing officers
I. Cash advance register
J. Cash - MDS, regular
K. Non-cash availment authority
L. Notice of Transfer Allocation
M. Taxes
N. Advances for payroll
O. Operating lease
P. Petty operating expenses
Q. Tax Remittance Advice
R. Cash disbursement register
S. Advice to Debit Account
T. MDS Check
U. Cash advances for travel
V. LDDAP-ADA
W. Advances to regular disbursing officers
X. Notice of Cash Allocation
Y. Penalties
23. Statement 1: Tax Remittance Advice is used to recognize the constructive receipt
of tax revenue and customs duties in the books of the BTr and BOC. Statement 2: Tax
Remittance Advice is used to recognize the constructive receipt of the taxes and
customs duties remitted in the books of the BOC.
1 point
A. Only statement 1 is true
B. Only statement 2 is true
C. Both statements are true
D. Both statements are false
25. Statement 1: The PCF shall be replenished as soon as disbursements reach at
least 50% or as needed. Statement 2: Government Units without complete set of
books of accounts may be granted cash advance covering two months operating
requirements for authorized petty and other miscellaneous expenses to finance their
operations.
1 point
A. Only statement 1 is true
B. Only statement 2 is true
C. Both statements are true
D. Both statements are false
1. Disbursements made through direct payment method should be covered by what
disbursement authority?
1 point
A. Finance lease
B. Special cash advance
C. Advances to officers and employees
D. Due from officers and employees
E. Commercial check
F. Accumulated Surplus/deficit
G. Cash Disbursement Ceiling
H. Advances to special disbursing officers
I. Cash advance register
J. Cash - MDS, regular
K. Non-cash availment authority
L. Notice of Transfer Allocation
M. Taxes
N. Advances for payroll
O. Operating lease
P. Petty operating expenses
Q. Tax Remittance Advice
R. Cash disbursement register
S. Advice to Debit Account
T. MDS Check
U. Cash advances for travel
V. LDDAP-ADA
W. Advances to regular disbursing officers
X. Notice of Cash Allocation
Y. Penalties
11. It refers to a serially-numbered document prescribed by the DBM that should be
used by the NGAs in the remittance of withheld taxes on funds coming from DBM.
1 point
A. Finance lease
B. Special cash advance
C. Advances to officers and employees
D. Due from officers and employees
E. Commercial check
F. Accumulated Surplus/deficit
G. Cash Disbursement Ceiling
H. Advances to special disbursing officers
I. Cash advance register
J. Cash - MDS, regular
K. Non-cash availment authority
L. Notice of Transfer Allocation
M. Taxes
N. Advances for payroll
O. Operating lease
P. Petty operating expenses
Q. Tax Remittance Advice
R. Cash disbursement register
S. Advice to Debit Account
T. MDS Check
U. Cash advances for travel
V. LDDAP-ADA
W. Advances to regular disbursing officers
X. Notice of Cash Allocation
Y. Penalties
8. This refers to a check issued by government agencies chargeable against the
agency’s checking account with AGDBs.
1 point
Option 1
A. Finance lease
B. Special cash advance
C. Advances to officers and employees
D. Due from officers and employees
E. Commercial check
F. Accumulated Surplus/deficit
G. Cash Disbursement Ceiling
H. Advances to special disbursing officers
I. Cash advance register
J. Cash - MDS, regular
K. Non-cash availment authority
L. Notice of Transfer Allocation
M. Taxes
N. Advances for payroll
O. Operating lease
P. Petty operating expenses
Q. Tax Remittance Advice
R. Cash disbursement register
S. Advice to Debit Account
T. MDS Check
U. Cash advances for travel
V. LDDAP-ADA
W. Advances to regular disbursing officers
X. Notice of Cash Allocation
Y. Penalties
21. Statement 1: Transfers of resources that satisfy the definition of contributions from
owners will not give rise to revenue Statement 2: Entities recognize revenue in respect
of debt forgiveness when the former debt no longer meets the definition of a liability or
satisfies the criteria for recognition as a liability, provided that the debt forgiveness
does not satisfy the definition of a contribution from owners
1 point
A. Only statement 1 is true
B. Only statement 2 is true
C. Both statements are true
D. Both statements are false
4. The journal entry to recognize the receipt of an overpayment in the ensuing year
includes a credit to what account
1 point
A. Finance lease
B. Special cash advance
C. Advances to officers and employees
D. Due from officers and employees
E. Commercial check
F. Accumulated Surplus/deficit
G. Cash Disbursement Ceiling
H. Advances to special disbursing officers
I. Cash advance register
J. Cash - MDS, regular
K. Non-cash availment authority
L. Notice of Transfer Allocation
M. Taxes
N. Advances for payroll
O. Operating lease
P. Petty operating expenses
Q. Tax Remittance Advice
R. Cash disbursement register
S. Advice to Debit Account
T. MDS Check
U. Cash advances for travel
V. LDDAP-ADA
W. Advances to regular disbursing officers
X. Notice of Cash Allocation
Y. Penalties
6. Advances for travel granted to qualified government employees to cover travelling
expenses shall be accounted for as ___________________________.
1 point
A. Finance lease
B. Special cash advance
C. Advances to officers and employees
D. Due from officers and employees
E. Commercial check
F. Accumulated Surplus/deficit
G. Cash Disbursement Ceiling
H. Advances to special disbursing officers
I. Cash advance register
J. Cash - MDS, regular
K. Non-cash availment authority
L. Notice of Transfer Allocation
M. Taxes
N. Advances for payroll
O. Operating lease
P. Petty operating expenses
Q. Tax Remittance Advice
R. Cash disbursement register
S. Advice to Debit Account
T. MDS Check
U. Cash advances for travel
V. LDDAP-ADA
W. Advances to regular disbursing officers
X. Notice of Cash Allocation
Y. Penalties
17. Statement 1: Inventories of government agencies are required to be measured at
lower of cost and net realizable value except inventories acquired through exchange
transactions. Statement 2: Non-exchange transactions involving inventories shall be
measured at fair value at their acquisition date
1 point
A. Only statement 1 is true
B. Only statement 2 is true
C. Both statements are true
D. Both statements are false
13. This shall be the authority of the regional and operating units to pay their operating
expenses, purchases of supplies and materials, acquisition of PPE, accounts payable,
and other authorized disbursements through the issue of MDS checks, ADA or other
modes of disbursements.
1 point
A. Finance lease
B. Special cash advance
C. Advances to officers and employees
D. Due from officers and employees
E. Commercial check
F. Accumulated Surplus/deficit
G. Cash Disbursement Ceiling
H. Advances to special disbursing officers
I. Cash advance register
J. Cash - MDS, regular
K. Non-cash availment authority
L. Notice of Transfer Allocation
M. Taxes
N. Advances for payroll
O. Operating lease
P. Petty operating expenses
Q. Tax Remittance Advice
R. Cash disbursement register
S. Advice to Debit Account
T. MDS Check
U. Cash advances for travel
V. LDDAP-ADA
W. Advances to regular disbursing officers
X. Notice of Cash Allocation
Y. Penalties
20. Statement 1: PPE acquired by way of donation without condition is recognized as
“Income from Grants and donations in Kind” at its fair value. Statement 2: Depreciation
of PPE begins when it is available for use and is temporarily suspended if it is idle or
retired from active use and held for disposal
1 point
A. Only statement 1 is true
B. Only statement 2 is true
C. Both statements are true
D. Both statements are false
24. Statement 1: Regular Cash Advance refers to the amount granted to cashiers,
disbursing officers, paymasters, and/or other accountable officers for the payment of
expenses such as salaries and wages, commutable allowances, honoraria and other
similar payments to officials and employees. Statement 2: Special Cash Advance
refers to the amount granted on the explicit authority of the Head of the Agency only to
duly designated disbursing officers or employees for other legally authorized
purposes, such as payment of current operating expenditures, including salaries,
wages and allowances, travel expenditures, and maintenance and other operating
expenses, of the agency field office or for special purpose/time-bound undertaking of
the agency when it is impractical to pay the same by check.
1 point
A. Only statement 1 is true
B. Only statement 2 is true
C. Both statements are true
D. Both statements are false
16. Statement 1: The head of the Budget Department certifies the availability of funds
before an Agency head or his duly authorized representative enter into a contract that
involves the expenditure of public funds. Statement 2: The head of the Budget
Department certifies the availability of funds before an Agency head or his duly
authorized representative enter into a contract that involves the expenditure of public
funds
1 point
A. Only statement 1 is true
B. Only statement 2 is true
C. Both statements are true
D. Both statements are false
22. Statement 1: A check is cancelled either by non-payment or nonacceptance.
Statement 2: Cash shortage which is not restituted by the Collecting Officer despite
demand in writing by the Auditor shall be taken up as Due to Collecting Officer
1 point
A. Only statement 1 is true
B. Only statement 2 is true
C. Both statements are true
D. Both statements are false
2. This is an authorization issued by the Department of Budget and Management to
the Department of Foreign Affairs and Department of Labor and Employment to utilize
their collections retained their Foreign Service posts to cover operating expenses but
not to exceed the released allotment to the said post.
1 point
A. Finance lease
B. Special cash advance
C. Advances to officers and employees
D. Due from officers and employees
E. Commercial check
F. Accumulated Surplus/deficit
G. Cash Disbursement Ceiling
H. Advances to special disbursing officers
I. Cash advance register
J. Cash - MDS, regular
K. Non-cash availment authority
L. Notice of Transfer Allocation
M. Taxes
N. Advances for payroll
O. Operating lease
P. Petty operating expenses
Q. Tax Remittance Advice
R. Cash disbursement register
S. Advice to Debit Account
T. MDS Check
U. Cash advances for travel
V. LDDAP-ADA
W. Advances to regular disbursing officers
X. Notice of Cash Allocation
Y. Penalties
Identify what is described in the following items. Write your answers in CAPITAL letters with NO special
characters. (1 point per correct answer)
1. These are unenforceable undertakings to transfer assets to the recipient entity
1 point
Your answer
9. These constitute all cash paid out during a given period in any form
1 point
Your answer
4. This refers to those authorized by the Credit Card Company to be the
sellers/suppliers under the Cashless Purchase Card System
1 point
Your answer
7. It is the amount of cash or cash equivalents paid and the fair value of the other
consideration given to acquire an asset at the time of its acquisition or construction
1 point
Your answer
2. It is a transfer made according to the provisions of a deceased person’s will
1 point
Your answer
8. It is a permanent reduction in the value of a company's asset
1 point
Your answer
5. The gross inflow of economic benefits or service potential during the reporting
period when those inflows result in an increase in net assets/equity, other than
increases relating to contributions from owners
1 point
Your answer
10. This is the share of the National Government from the earnings of its capital/equity
investments in Government-Owned or Controlled Corporations and other entities
1 point
Your answer
3. These are economic benefits or service potential received or receivable by NGAs,
from an individual or other entity, as determined by a court or other law enforcement
body, as a consequence of the individual or other entity breaching the requirements of
laws or regulations
1 point
Your answer
6. Refers to the undertaking which an agency shall prosecute or implement in favor or
in behalf of another agency
1 point
Your answer
PROBLEMS
Solve the following problem completely and in good accounting form. Write your answers in a clean sheet of
paper and attach in our google classroom. Kindly write legibly and encircle your final answers. (5 points per
correct answer with complete solution)
1. A petty cash fund for P3,000 was established. The agency was out of stock of
coupon bond which is needed for immediate printing of important documents. An
employee was sent out to buy the needed supply and subsequently spent P100.To
avoid any future delays for subsequent printing, the agency instructed the Supply
officer to maintain stock for coupon bond amounting to P1,000 every month to be kept
in stock for emergency purposes. The president made a surprise visit in the agency.
Refreshments were prepared costing P500.How much is the balance of the Petty
Cash Fund by the end of the period assuming no replenishment was made?
5 points
Your answer
3. Using the information in #2, how much is the balance of RAOD-MO?
5 points
Your answer
2. The following items were purchased by the agency: January 5 – 10 computer sets
for P15,000/set from ABC store ; 2 sofa set for P50,000/set from Tiongsan; 50 mini
calculators for P100/pc; To avoid from getting any stains, sofa covers were purchased
for P50,000. All items were used upon delivery the following day January 10- due to
growing health awareness, computer screens were purchased for P500/computer.
How much is the balance of RAOD-CO?
5 points
Your answer
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