Pa113 Public Accounting and Budgeting Midterms

SANTO TOMAS COLLEGE OF AGRICULTURE, SCIENCES AND
TECHNOLOGY
PA 113 PUBLIC ACCOUNTING AND BUDGETING
PART 1 - IDENTIFICATION
1. It is the authorization from the Department of Budget and Management to an agency to incur obligation up to a specified
amount that must be within the legislative appropriation.
2. The President’s explanation of the country’s fiscal policy and budget priorities is contained in a document called
3. It is the system of prescribing the procedures for recording, appropriations, allotments and obligations.
4. This type of expenditure pertains to all types of employee benefits.
5. Congressional Authorization in the form of law to make payments out of the public treasury for specific purposes after
compliance with certain conditions.
6. The Chart of Accounts for government agencies shall be prescribed by which government agency.
7. This is a budget that is prepared in such a way that estimated revenues exceed estimated expenditures.
8. It is a government-wide harmonized, budgetary, treasury, and accounting code classification
9. Refers to economic obligations of an agency that are recognized and measured in conformity with accounting principles.
They also include certain deferred credits that are not obligations but which are nonetheless recognized and measured
according to accounting principles as outlined in PPSAS.
10. It is a political corporate unit of government which consists of a group of barangays. Serves primarily as a general-purpose
government for the coordination and delivery of basic, regular and direct services and effective governance of the
inhabitants within its territorial jurisdiction.
PART 2 - MULTIPLE CHOICE : IDENTIFY THE LETTER OF THE CORRECT ANSWER
1. The budgetary accounts in government accounting consists of the following:

a. Appropriation, liquidation and Notice of Cash Allocation
b. Allotment, obligation, and liquidation
c. Appropriation, Allotment and Obligation
d. Allotment, liquidation and Notice of Cash Allocation
2. It is the annual documents required on the onset of the budget execution phase, which contain the agencies’ targets and
plans for the current year.
a. Annual Cash Program (ACP)
b. Agency Budget Matrix (ABM)
c. Budget Execution Documents (BEDs)
d. Budget Accountability Report (BARs)
3. Allotment refers the authorization by the legislative body to allocate funds for purposes specified by the legislative of similar
authority. A government entity must first receive an allotment before it can incur obligations.
a. Only Statement 1 is true
b. Statement I is True, Statement 2 is false
c. Only Statement 2 is True
d. Both Statements are False
4. Responsibility accounting is a system that related the financial reports to a responsibility center. It is a system that
measures the plans and actions of each responsibility center.
b. Statement I is True, Statement 2 is false
c. Only Statement 2 is True
d. Both Statements are True
5. As used in government or fund accounting, the term “fund” usually denotes (?)
a. An appropriation authorized by the legislature for use of an agency, bureau or office
b. A sum of money designated for a special purpose
c. A fiscal and accounting entity having a set of self-balancing accounts
d. A liability to other governmental units
e. The equity of municipal corporation
6. The functions of the Commission on Audit do not include
a. Designing, preparing, and approving the accounting systems of government agencies
b. Keeping the general accounts of the government
c. Promulgating accounting and auditing rules and regulations
d. Examining, auditing and settling all accounts of the government
7. The agency of government which plays a pivotal role in the cash operations of the national government
a. Bureau of Internal Revenue
b. Department of Budget and Management
c. Bureau of Treasury
d. Commission on Audit
8. Arrange the following steps according to the sequence that they appear in the budget cycle
a. Allotment
b. Appropriation
c. Incurrence of Obligation
d. Disbursement
9. It refers to any changes within an activity or project, change in operating unit, allotment class, object of expenditure, within
an agency or department budget
a. Change in estimate
b. Correction of error
c. Augmentation
d. Modification
10. A budget, the basis of which are the objects of expenditure
a. Annual Budget
b. Line-Item Budget
c. Supplemental Budget
d. Special Budget
11. Responsibility accounting aims to: 1. Ensure that all costs and revenues are properly charged/credited to the correct
responsibility center so that deviations from the budget can be readily attributed to managers accountable therefor. 2.
Provide a basis for making decisions for future operations; and 3. Facilitate review activities, monitoring the performance of
each responsibility center and evaluation of the effectiveness of the agency’s operations
b. Statement 1 and 2 True, Statement 3 is False
c. All Statements are True
d. All Statements are False
12. A budget of special nature and generally submitted in special forms on account that itemizations are not adequately
provided in the Appropriations Act or that the amount are not at all included in the Appropriations Act
a. Annual Budget
b. Special Budget
c. Line-Item Budget
d. Supplemental Budget
13. This registry shows the original, supplemental and final budget for the year and all allotments received charged against the
corresponding appropriation
a. Registry of Allotments, Obligations and Disbursements (RAOD)
b. Registry of Appropriations and Allotments (RAPAL)
c. Registry of Revenue and Other Receipts (RROR)
d. Registry of Budget, Utilization and Disbursement (RBUD)
14. One of the following is not considered government income;
a. Proceeds from loans and borrowings
b. Government Buildings
c. Grants and aids received from foreign governments
d. Taxes
15. It is a disbursement authority representing Modified Disbursement Checks issued and direct payments to external creditors
per validated advice to debit account in the list of due and demandable accounts payable
a. Tax Remittance Advice
b. Notice of Cash Allocation (NCA)
c. Non-Cash Availment Authority
d. Cash Disbursement Ceiling
PART 3 – DISCUSSION
1. Budget Activities are governed by legal provisions/fundamental principles related to financial

transactions and operations of the government. Discuss the Fundamental Principles of Fiscal
Operations as provided for by law.
2. Discuss briefly the Budget Cycle
3. Enumerate and Explain the different kinds of Budget

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SANTO TOMAS COLLEGE OF AGRICULTURE, SCIENCES AND

PA 113 PUBLIC ACCOUNTING AND BUDGETING

PART 2 - MULTIPLE CHOICE : IDENTIFY THE LETTER OF THE CORRECT ANSWER

1. The budgetary accounts in government accounting consists of the following:

1. Budget Activities are governed by legal provisions/fundamental principles related to financial

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