Professional Documents
Culture Documents
Course/Section:
a. 10% of cost
c. P 1,000
b. Zero
d. P 5,000
18. It represents all funds received by the government from taxes, grants, aids and subsidies.
a. Government income
c. Cash Fund
b. Government surplus
d. Borrowing
19. What are the two major classification of government income?
a. National and Local income
c. External and Internal trade
b. General and Specific income
d. Any of these
20. Specific income accounts of the government include all of the following, except
a. Taxes imposed on income
c. Taxes on international trade
b. Taxes imposed on properties
d. Grants and donations
21. Which is nota major classification of government expenses?
a. Personal Services
c. Selling and administrative expenses
b. Financial expenses
d. Maintenance & other operating expenses
22. Personal services in government entities would normally include
a. Advertising, rent, insurance and gasoline
b. Salaries, bonuses and allowances
c. Travels, training, seminar and telephone
d. Bank charges, interest and foreign currency exchange losses
23. These accounts are closed to the government equity account at the end of the period.
a. Balance sheet accounts
c. Guarantee deposit
b. Intermediate accounts
d. Allowance for doubtful accounts
24. A government agency shall maintain which of the following registries for allotments and
obligations?
a.Registry of Allotments and Obligation- Personal Services (RAOPS)
b. Registry of Allotments and Obligation-Maintenance & Other Operating Expenses (RAOMO) &
Registry of Allotments and Obligation- Financial Expense (RAOFE)
c. Registry of Allotments and Obligation-Capital Outlay (RAOCO)
d. All of the choices
25. In Controlling and monitoring the appropriations and allotment, DBM shall maintain the
following registries, except
a. Registry of Appropriation & Allotment (RAPAL)
b. Registry of Special Purpose Fund Appropriation (RESPFA)
c. Registry of Allotments & NCA (RANCA)
d. Registry of Notice of Cash Allocation and Replenishments (RENREP)
26. This consists of cash and resources of the government that are available for any purpose.
a. General fund
c. Trust fund
b. Special fund
d. Depository fund
27. Fund administered by government under a fiduciary capacity is referred to as
a. General fund
c. Trust fund
b. Special fund
d. Depository fund
28. Which is (are) a special purpose fund created as required by law r by a donor agency?
a. Miscellaneous Personal Fund
c. Organization Adjustment Fund
b. Calamity Fund
d. All of the choices
29. Which is not a local government fund?
a. General fund
c. Special education fund
b. Infrastructure fund
d. Pork barrel fund
30. A local government fund that constitutes the annual contribution from city or municipality in
the amounts approved by law for each barrio which is spent solely for community
development projects.
a.Infrastructure fund
c. Trust fund
b. Special education fund
d. Barrio development fund
31. Disbursement of local funds must be approved by
a. Division head
c. Accountant
b. Local administrator
d. Local chief executive
Terminologies
____malversation___1. A government official that disburses government funds beyond approved
budget may be charged with
__________________2.The activities necessary to perform a major purpose for which a government
entity is established.
_______Project_____3. It is a compound of program covering a homogeneous group of activities that
result in the accomplishment of an identifiable output.
___Expected Result__4.The services, products or benefits accruing to the public estimated in terms of
performance target.
_______Resources___5.The actual asset of the government agency such as cash, receivables, land and
buildings.
__Balanced Budget___6. A national budget designed wherein total estimated revenue is more than
total estimated expenditures.
__Line Item Budget__7. This type of budget focuses on the objects of expenditure such as salaries
and wage, traveling expenses, freight, supplies, materials equipment.
Zero Based Budgeting8. This is a process in budget preparation that required systematic
consideration of all programs, projects, and activities with the use of defined ranking procedures, and
does not accept the priors year budget as a starting point for analysis.
__________________9.A covering letter in transmitting as agencys accounting report to CoA, DBM and
others agencies.
__________________10. It is the allotment release by Local Government Units ( LGU) or Department of
Budget and Management to barangays.