reviewer 1

Question 1

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

Answer 1

BUREAU OF TREASURY

Question 2

1. The Notice of Cash Allocation (NCA) is an authority issued by the DBM to central, regional and provincial offices and operating units to cover their cash requirements
2. Responsibility accounting greatly enhances budget accountability because managers are evaluated only in terms of the costs or other variables that they control and therefore budget deviations can be readily attributed to the managers accountable thereof (T/F)

Answer 2

TRUE, TRUE

Question 3

Notice of Cash Allocations are released directly to agencies’ Modified Disbursement System (MDS) accounts in the Government Servicing Banks (GSBs) subject to quarterly lapsing of cash. What is the GSB of the Philippines?

Answer 3

LAND BANK OF THE PHILIPPINES

Question 4

The GAM for NGAs consist of how many manuals?

Answer 4

3

Question 5

It is a phase of budget cycle that starts upon the receipt of the President’s budget by the House Speaker and ends with the President’s enactment of the General Appropriations Act

Answer 5

BUDGET OF LEGISLATION

Question 6

Refers to a check issued by government agencies chargeable against the account of the Treasurer of the Philippines

Answer 6

MODIFIED DISBURSEMENT SYSTEM (MDS) CHECK

Question 7

It is the formal document issued by the Department of Budget and Management to the head of the agency containing the authorization, conditions and amount of allocation

Answer 7

NOTICE OF CASH ALLOCATION

Question 8

It is a phase of budget cycle that Audit is done by COA

Answer 8

BUDGET ACCOUNTABILITY

Question 9

It is a phase of budget cycle that the primary output is the National Expenditure Program (NEP)

Answer 9

BUDGET PREPARATION