GOVACC - GAM

Budget Preparation and Presentation

A government budgetary process wherein the President, through the assistance of the DBM, shall prepare & submit to the Congress a Budget of Expenditures and Sources of Financing (BESF), including receipts from existing and proposed revenue measures.

Tax Remittance Advice

A serially numbered document prescribed by the DBM that should be used by the NGAs in the remittance of withheld taxes on funds coming from the DBM.

GSIS

All of the following are national government agencies except:

NTA

Authority issued by the Central Office of a government agency to its regional and operating units to cover the latter's cash requirements.

MDS checks

Checks issued by the government agencies chargeable against the account of the Treasurer of the Philippines

Appropriations

It refers to authorizations made by law for payments to be made with government funds under specified conditions for specified purposes.

budget call

It signals the start of the preparation of the budget proposal.

Irregular Expenditures

Purchases without any bidding is an example of:

Semi-expendable property and equipment

Tangible items with a service life of more than one year and not within the capitalization threshold of P15,000.

NCAA

The authority issued by the DBM to agencies to cover the liquidation of their actual obligations incurred against available allotments for availing of proceeds from loans/grants through supplier's credit/constructive cash.

Cash-Tax Remittance Advice

The credit entry to record the tax remittance thru the Tax Remittance Advice (TRA) is:

Michael Aguinaldo

The current chairman of the Commission on Audit (COA) is:

Cash-Collecting Officer

The debit entry to record the cash collections in a national government agency is:

Cash-Local Treasury

The following Cash account titles are included in the Trial Balance of a national government agency, except

Interest Expenses

The following obligations are recorded in the RAOD-MOOE, except

COA

The government agency that audits the general accounts of the Government, promulgates accounting rules and regulations, and submits the annual financial report of the Government, its subdivisions and agencies is:

Unnecessary

These are expenditures that could not pass the test of prudence or the required diligence of a good father of a family, thereby not responsive to the exigencies of the service. These expenditures are not supportive of the objective and mission of the agency relative to the nature of its operations.

Advances to Officers and Employees

This account is debited to record the amount advanced to officers and employees for official travel.

RAOD-CO

Under the current government accounting system, an obligation for the purchase of equipment is recorded in the:

unconscionable

Unreasonable and immoderate expenses incurred in violation of ethics and morality by one who does not have any feeling of guilt for the violation.

1987 Constitution

What is the legal basis of the COA for the performance of its function?

Luxurious furnishings for government buildings

Which of the following describes the best example of extravagant expenditures?

Passport and VISA Fees

Which of the following income of NGAs is classified as service income?

Representation Expenses

Which of the following is not an expense under the classification Personnel Services?

Journal Entry Voucher

Which of the following is used as the basis of a recording in the journals?

Social Services

Which of the following sector got the biggest slice of the 2021 budget?