ASIA PACIFIC COLLEGE OF ADVANCED STUDIES

COMPREHENSIVE EXAM
GOVERNMENT ACCOUNTING
NAME: ___________________________________________________
DATE:___________________
INSTRUCTOR:GEMINE AILNA PANGANIBAN
SCORE: _________________
I.

Label the Budget Cycle

II. MULTIPLE CHOICE

1. It is the process of analyzing, recording, classifying, summarizing and communicating all transactions
involving the receipt and disposition of government funds and propert and interpreting the results
thereof.
a. Government Auditing
c. Government Accounting
b. Government Budgeting
d. National Government
2. Which is not charged with government accounting responsibility?
a. Commission on Audit
c. National Government Agencies
b. Department of Budget & Management
d. Legislative Department
3. What is the role of the Bureau of Treasury in relation to government accounting responsibility?
a. To receive and keep national funds and manage or control disbursements thereof
b. To desgn, prepare, and approve the accounting systems of national government
c. To keep the general accounts of the national government
d. To prepare the annual financial report of the national government
4. The books of accounts are composed of the following:
a. Regular Agency books and National Government books
b. National Government books and books of original entry
c. Journal and Subsidiary ledgers
d. Regular agency books and books of original entry
5. The following are the systems followed in the NGAS except
a. Commercial Accounting
c, Responsibility Accounting
b. Double-entry bookkeeping
d. Fund Accounting
6. What is the basis of accounting under the NGAS?
a. Modified Accrual
b. Cash Basis

c. Accrual Basis
d. Strict Accrual

7. To provide for Responsibility Accounting, the NGAS uses a standard chart of accounts with
a. Three Digits
c. Five Digits
b. Four Digits
d. Six Digits
8. Special purpose fund is a fund appropriated for purposes other than those provided in the regular
funds of government agencies. Which of the following is a special purpose fund?
a. Organizational adjustment fund
c. Reimbursable fund
b. Sinking fund
d. General Fund
9. Which of the following journals shall be used under the NGAS?
a. Journal of checks issued
c. Journal of bills rendered
b. Journal and analysis of obligations
d. General journal
10. The books of original entry shall be used to record, in time sequence, financial transactions and
information presented in duly certified and approved accounting documents. What is the basis in
recording the financial transactions in the journals?
a. Journal Entry Voucher
c. Journal and analysis of obligations
b. Journal of checks issued
d. Journal of bills rendered

II.

JOURNAL ENTRIES. Prepare the Adjusting and Closing Entries for the following transactions.