PRELIMS EXAM

Allotments

it provides the details of spending for each department and agency by program, activity, or project (PAP)

Volume III

This volume of the government accounting manual (GAM) contains the list of accounts and the description of each account.

Budget Execution

this phase of the national budget creation process is primarily the function of the Department of Budget and Management (DBM).

Volume I

this volume of the government accounting manual (GAM) contains the general provisions, basic standards and policies, the specific guidelines and procedures for each standard, and the illustrative entries for typical transactions of national government agencies.

Account Group

it represents the accounts’ classification as to assets, liabilities, equity, income, and expenses.

Continuing Appropriation

It is an authorization that supports obligations for a specific purpose or project, which requires the incurrence of obligations beyond the budget year

Budget Call

it contains budget parameters set by the Development Budget Coordination Committee (DBCC), policy guidelines, and procedures to aid government agencies in preparing and submitting their budget proposals

Approved Budget

it is the expenditure authority derived from appropriation laws, government ordinances, and other decisions related to the anticipated revenue or receipts for the budgetary period.

Bureau of the Treasury (BTr)

it acts as the principal custodian of the financial assets of the national government

Budget Authorization

this phase of the national budget creation process starts when Congress receives the President’s Budget and ends when the President approves the proposed General Appropriation Bill (GAB)

Budget Preparation

the Department of Budget and Management (DBM) initiates this phase of the national budget creation process by issuing a budget call

Revolving Funds

these are receipts derived from business-type activities of departments/agencies and deposited in any authorized government depository bank.

Appropriation

it is the authorization made by a legislative body to allocate funds for purposes specified by the legislative or similar authority

Allotments

it is issued by the Department of Budget and Management (DBM), which authorizes the agencies to enter obligations

Notice of Transfer of Allocation (NTA)

it is the authority issued by the Central Office to its regional and operating units to cover the latter’s cash requirements

Temporary investment of investible cash in the National Treasury may be construed as disbursements of funds

all are rules in disbursing the government funds, EXCEPT:

Commission on Audit’s Chairperson

all are members of the Development Budget Coordination Committee (DBCC), EXCEPT:

Department of Budget and Management (DBM)

It is responsible for the efficient and sound utilization of government funds and revenues to effectively achieve the country’s development objectives

Cash Release Program (CRP)

which of the following fixes the monthly, quarterly, and annual disbursement levels of an agency

Funding Source Code

it is a six (6) digit code that reflects the Financing Source, Authorization, and Fund Category.

Travel Expenses

all shall be recorded in the Registry of Allotments, Obligations, and Disbursements-Personnel Service (RAOD-PS)

Documentary Stamp Expenses

all shall be recorded in the Registry of Allotments, Obligations, and Disbursements-Maintenance and Other Operating Expenses (RAOD-MOOE)

Taxes include fines or other penalties imposed for breaches of the law

which of the following is INCORRECT about the accounting standards and policies for the revenue of the national government agencies?

Revolving Funds

all are examples of Special Purpose Fund (SPF), EXCEPT:

Maintain accounts of the financial transactions of all national secretaries, bureaus, agencies, and instrumentalities

All are responsibilities of the Commission on Audit (COA), EXCEPT

Budget Allotment

all are the phases in the process of national budget creation, EXCEPT:

Head of the Agency

who among the following has the immediate and primary responsibility for all the government funds of an agency?

Items of a dissimilar nature or function shall be collectively presented unless they are immaterial

which of the following is INCORRECT about the accounting standards and policies in the preparation of financial statements of the national government agencies?

local development

all are the groups of public expenditures EXCEPT:

Notice of Cash Allocation (NCA)

which of the following specifies the maximum amount of cash that can be withdrawn from a government servicing bank for the period indicated?

Cash Disbursement Ceiling (CDC)

which of the following is issued to departments with the overseas operations, which allows them to use the income collected by their foreign posts for their operating requirements

Registries of Allotments, Obligations, and Disbursements (RAOD)

which of the following shall be maintained by the Budget Division/Unit of agencies to record allotments, obligations, and disbursements?

General Appropriations Act Release Document (GAARD)

all are disbursements authorities, EXCEPT:

Appropriation Code

all are the key elements of the Unified Accounts Code Structure (UACS), EXCEPT:

Representation Expenses

all of the following expenses shall be recorded in the Registry of Allotments, Obligations, and Disbursements-Financial Expenses (RAOD-FE), EXCEPT:

Organization Code

it is a 12-digit code that reflects the Department, Agency, and Sub-Agency or Operating Unit/Revenue Collecting Unit

Commission on Audit (COA)

it examines, audits, and settles all accounts regarding the revenue and receipts of expenditures or uses of funds and property owned or held in trust by or of the government

General Ledger Account

it represents the accounts to be presented in the detailed financial statements

Revenue Funds

these comprise all funds derived from the income of any government agency and all available for appropriation or expenditure according to law

Commission on Audit (COA)

which of the following offices prescribed the New Government Accounting System (NGAS)?

Examine, audit, and settle all accounts about the revenue and expenditures of the government

all are responsibilities of the Bureau of Treasury (BTr), EXCEPT:

Allotment Release Program (ARP)

which of the following sets a limit for allotments issued in general and to a specific agency?

it must call the Bicameral Conference Committee

what sould Congress do when there are conflicting provisions in the House’s version of the General Appropriation Bill (GAB)?

Registry of Appropriations and Allotments (RAPAL)

which of the following registries will show the original, supplemental, and final budget for the year and all allotments received charged agaisnt the corresponding appropriation?

Temporary receipts may be issued to acknowledge the receipt of public funds

all revenues accruing to the NGAS shall be governed by the following fundamentals principles, EXCEPT:

Trust funds may be spent for whatever purposes as long as it is for the public

all are fundamental principles in government accounting as provided by Section 4 of Presidential Decree 1445, EXCEPT:

General Appropriations Bill (GAB)

all are documents that must be submitted by the Department of Budget and Management (DBM) to Congress for the budget legislation, EXCEPT:

Registry of Revenues and Disbursements (RRD)

all are registries in recording appropriations and allotments, EXCEPT:

Provide advice on the financial condition and status of the appropriations and allotments of the agency

all are objectives of the government accounting under Section 110 of Presidential Decree 1445, EXCEPT:

The entity cannot control the future economic benefits embodied in the asset

all are indicators that an entity controls the benefits of an asset, EXCEPT: