1.

The objectives NGAS include all of the following, excepta.

To simplify government accounting and its eventual computerizationb.

To adopt a system that is conformity with Philippine Financial Reporting Standar

ds (PFRS)c.

To keep close tabs on erring officers that misappropriate government fundsd.

To generate periodic and relevant financial reports for better monitoring of per
formance2.

It is the government body that keeps the general accounts of the government and
prepares the annual financialstatement of the national government, local governm
ent agencies and government-owned or controlled operations(GOCCs)?a.

Commission on Audit( CoA) c. Department of Budget and Managementb.

Bureau of Treasury d. Department of Finance3.

What are the components of the financial statements (FS) under NGAS?a.

Balance sheet, statement of income and expenses and notes to the FSb.

Balance sheet, statement of income and expenses and cash flow statementc.

Balance sheet, statement of income and expenses and statement of government equi
tyd.

Balance sheet, statement of income and expenses, cash flow statement, statement
of government equity andnotes to the FS4.

It is a system of prescribing the procedures for recording appropriations, allot

ments and obligations.a.

Fund accounting c. Obligation accountingb.

Budgetary accounting d. Treasury disbursement coding system5.

It is an authorization made by law or other legislative enactment, directing pay

ments of goods and services outgovernment funds under specifiedcondition or for
specific purposes.a.

Allotment c. Appropriationb.

Obligation d. Malversation6.

It is the allotment by the Central office to its Regional office.a.

Regular allotment c. Ordinary Allotmentb.

Suballotment d. Secondary Allotment7.

It refers to the commitment by a government agency arising from an act of a duly

authorized official that binds thegovernment to the immediate or eventual payme
nts of a sum of money.a.

Allotment c. Appropriationb.


Obligation d. Malversation8.

It is an authorization issued by the DBM to government agencies to withdraw cash

from the National Treasurythrough the issuance of Modified Disbursement System
Checks.a.

Allotment c. Appropriationb.

Obligation d. Notice of Cash Allocation9.

The following are the system followed in the NGAS, excepta.

Commercial accounting c. Responsibility accountingb.

Double-entry bookkeeping d. Fund accounting10.

Which is not a basic feature of NGAS?a.

One-fund concept c. Three-digit account number systemb.

Two-column trial balance d. Four-digit responsibility account coding structure11

.

Which is not a basic feature of NGAS?a.Straight-line depreciation c. Corollary a

nd negative (red) entriesb. Allowance for doubtful accounts d. Perpetual invento
ry system12.

This serves as the basis for recording transactions in the general journal.a. Jo
urnal Entry Voucher (JEV) c. Government bidding filesb. Source documents d. Gove
rnment contractor form13.

Which of the following is not a Regular Agency Book?a. General journal c. Cash J
ournalb. General ledger d. Check disbursements journal14.

Under NGAS, supplies and materials purchased for inventory purposes are recorded
usinga. First-in, first-out(FIFO) c. Weighted averageb. Last-in, first-out (LIF
O) d. Moving average15.

Once a government agency receives Notice of Cash Allocation (NCA), it shall

Cash
debit
-National Treasury,
Modified Disbursement System and credit
a. NCA- Local Government c. Subsidy Income- Local Governmentb. NCA- National Gove
rnment d. Subsidy Income- National Government16.

Petty cash fund being maintained by government agencies shall be maintained unde
ra. Fluctuating fund system c. Either of theseb. Imprest system d. Neither of th
ese17.

Under NGAS, the standard residual value of depreciable assets is equal toa. 10%
of cost c. P 1,000

b. Zero d. P 5,00018.

It represents all funds received by the government from taxes, grants, aids and
subsidies.a. Government income c. Cash Fundb. Government surplus d. Borrowing19.

What are the two major classification of government income?a. National and Local
income c. External and Internal tradeb. General and Specific income d. Any of t

hese20.

Specific income accounts of the government include all of the following, excepta
. Taxes imposed on income c. Taxes on international tradeb. Taxes imposed on pro
perties d. Grants and donations21.

Which is
not
a major classification of government expenses?a. Personal Services c. Selling an
d administrative expensesb. Financial expenses d. Maintenance & other operating
expenses22.

Personal services in government entities would normally includea. Advertising, r

ent, insurance and gasolineb. Salaries, bonuses and allowancesc. Travels, traini
ng, seminar and telephoned. Bank charges, interest and foreign currency exchange
losses23.

These accounts are closed to the government equity account at the end of the per
iod.a. Balance sheet accounts c. Guarantee depositb. Intermediate accounts d. Al
lowance for doubtful accounts24.

A government agency shall maintain which of the following registries for allotme
nts and obligations?a.Registry of Allotments and Obligation- Personal Services (
RAOPS)b. Registry of Allotments and Obligation-Maintenance & Other Operating Exp
enses (RAOMO) & Registry ofAllotments and Obligation- Financial Expense (RAOFE)c.
Registry of Allotments and Obligation-Capital Outlay (RAOCO)d. All of the choic
es25.

In Controlling and monitoring the appropriations and allotment, DBM shall mainta
in the following registries, excepta. Registry of Appropriation & Allotment (RAP
AL)b. Registry of Special Purpose Fund Appropriation (RESPFA)c. Registry of Allo
tments & 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 fundb. Special fund d. Depository fund27.

Fund administered by government under a fiduciary capacity is referred to asa. G

eneral fund c. Trust fundb. Special fund d. Depository fund28.

Which is (are) a
special purpose fund
created as required by law r by a donor agency?a. Miscellaneous Personal Fund c.
Organization Adjustment Fundb. Calamity Fund d. All of the choices29.

Which is not a local government fund?a. General fund c. Special education fundb.
Infrastructure fund d. Pork barrel fund30.

A local government fund that constitutes the annual contribution from city or mu
nicipality in the amounts approvedby law for each barrio which is spent solely f
or community development projects.a.Infrastructure fund c. Trust fundb. Special
education fund d. Barrio development fund31.

Disbursement of local funds must be approved bya. Division head c. Accountantb.

Local administrator d. Local chief executiveTerminologies__________________1. A g
overnment official that disburses government funds beyond approved budget may be
chargedwith__________________2.The activities necessary to perform a major purpo
se for which a government entity is established.__________________3. It is a comp
ound of program covering a homogeneous group of activities that result in theacc
omplishment of an identifiable output.__________________4.The services, products

or benefits accruing to the public estimated in terms of performance target._____

_____________5.The actual asset of the government agency such as cash, receivabl
es, land and buildings.__________________6. A national budget designed wherein to
tal estimated revenue is more than total estimatedexpenditures.__________________
7. This type of budget focuses on the objects of expenditure such as salaries an
d wage, travelingexpenses, freight, supplies, materials equipment._______________
___8. This is a process in budget preparation that required systematic considera
tion of all programs,
projects, and activities with the use of defined ranking procedures, and does no
t accept the prior s year budget as a startin
gpoint for analysis.__________________9.A covering letter in trans
mitting as agency s accounting
report to CoA, DBM and others agencies.__________________10. It is the allotment
release by Local Government Units ( LGU) or Department of Budget andManagement t
o barangays.