Ramon Magsaysay Technological University

College of Accountancy and Business Administration

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Course/Section:

1. The objectives NGAS include all of the following, except

a. To simplify government accounting and its eventual computerization
b. To adopt a system that is conformity with Philippine Financial Reporting Standards (PFRS)
c. To keep close tabs on erring officers that misappropriate government funds
d. To generate periodic and relevant financial reports for better monitoring of performance
2. It is the government body that keeps the general accounts of the government and prepares
the annual financial statement of the national government, local government agencies and
government-owned or controlled operations (GOCCs)?
a. Commission on Audit( CoA)
c. Department of Budget and Management
b. Bureau of Treasury
d. Department of Finance
3. What are the components of the financial statements (FS) under NGAS?
a. Balance sheet, statement of income and expenses and notes to the FS
b. Balance sheet, statement of income and expenses and cash flow statement
c. Balance sheet, statement of income and expenses and statement of government equity
d. Balance sheet, statement of income and expenses, cash flow statement, statement of
government equity and notes to the FS
4. It is a system of prescribing the procedures for recording appropriations, allotments and
obligations.
a. Fund accounting
c. Obligation accounting
b. Budgetary accounting
d. Treasury disbursement coding system
5. It is an authorization made by law or other legislative enactment, directing payments of goods
and services out government funds under specifiedcondition or for specific purposes.
a. Allotment
c. Appropriation
b. Obligation
d. Malversation
6. It is the allotment by the Central office to its Regional office.
a. Regular allotment
c. Ordinary Allotment
b. Suballotment
d. Secondary Allotment
7. It refers to the commitment by a government agency arising from an act of a duly authorized
official that binds the government to the immediate or eventual payments of a sum of money.
a. Allotment
c. Appropriation
b. Obligation
d. Malversation
8. It is an authorization issued by the DBM to government agencies to withdraw cash from the
National Treasury through the issuance of Modified Disbursement System Checks.
a. Allotment
c. Appropriation
b. Obligation
d. Notice of Cash Allocation
9. The following are the system followed in the NGAS, except
a. Commercial accounting
c. Responsibility accounting
b. Double-entry bookkeeping
d. Fund accounting
10. Which is not a basic feature of NGAS?
a. One-fund concept
c. Three-digit account number system
b. Two-column trial balance
d. Four-digit responsibility account coding structure