Page |1

FI
RSTGRADI
NG EXAMI
NATI
ON

1. Whati st helegalbasi
soft
heCOAi npr omulgat
ingtheGAM forNGAs?
a. RevisedPenalCode,Ar t
.217
b. StateAudi tCodeofthePhil
ippines,P.D.No.1445,Sec.109
c. ArticleIX-D,Secti
on2par.(2)ofthe1987Cons tit
uti
onoftheRepubl
icoft
he
Philippi
ne s
d. R.A.9298

2. TheGAM f orNGAsai mst oupdat eallofthef ol

lowinge xcept
a. standar ds,poli
cie
s ,guide
linesandpr oceduresi naccountingforgov
ernme ntf
undsand
prope rt
y
b. codings tructureandacc ounts
c. account ingbooks,r egi
str
ies,records,forms,r eport
sandfinanci alstat
ements
d. rulesandr egul
ationsregardingt hefil ingandpayme ntoftaxesbygovernment
empl oyees

3. Whichoft hefollowi ngisoneoft heFundament alPr i

nciplesf orRev enueundert heGAM f or
NGAs ?
a. Nopayme ntofanynat ureshal lber eceiv
ed byac ollectingoffic erwithouti mmedi atel
y
i
ssui nganoffic ialrecei
ptinacknowl edgementt her eof.Ther ec
eiptmaybei nt heform of
postage,internalr evenue or document arys tamps and t he like,offici al
ly number ed
receipt
s,subj ecttopropercus tody,account abi
lity
,andaudi t.
b. Tempor aryrec eipt
smaybei s
sue dt oac knowledget her ec ei
ptofpubl i
cfunds;pr ovi
ded
that,an offici alrecei
ptisi ssuedwi thin ashor tpe riodoft imeasmaybepr escr
ibedby
theCOA.
c. Moneyi nthehandsoft heCol lec
tingOffic ermaybeut il
ize
df ort hepur poseofcashi ng
privatechecks,upon pr operendor sementand i dentificat i
on oft hepayeeorendor see.
Chec ksdrawn i nfavoroft hegov ernmenti n payme ntofany s uchi nde
bt e
dne ssshal l
l
ikewi sebeac ceptedbyt heofficerc oncerned.
d. Allofthese

4. Whichoft hef oll

owi ngi snotoneoft heFundament alPr
inci
plesforDi sbursementofPubl i
c
Fundsundert heGAM f orNGAs ?
a. Nomone yshal lbepai doutofanypubl ictreasuryordepositoryexceptinpur suanceof
anappr opr i
ationl aw orot herspeci
ficst atutoryauthor
ity
.
b. Gov ernmentf undsorpr opertyshal
lbespentorus edsol
elyforpubl icpur pose
s.
c. Trus tfundsshal lbeav ail
ableandmaybes pentonlyforthes pecificpur poseforwhi ch
thet rustwascr eatedort hefundsr ecei
ved.
d. Fiscalr esponsi bili
tyshal l
,tot hegreate
stextent,beassumedsol e
lybyt heHeadoft he
governmentagency .

5. Whic hoft hefollowingstatement sisinc or

r ectregardingtheGAM f orNGAs ?
a. TheCOA s hallkeep thegener alaccount soft heGover nmentand,f ors uch period as
maybepr ovidedbyl aw,pr eservet hev oucher sandot hersuppor ti
ngpaper sper taining
thereto,pur suanttoSect i
on2,par .(1),Ar t
icleIX-D oft he1987Phi lippineCons t
itution.
b. The financi alreporting syst
em oft he Phi l
ippine gov ernmentc onsists ofaccount i
ng
system on accr ualbasi s and budge tr eporting system on budget basi s under t he
statutoryr esponsibil
it
y oft he NGAs ,Bur eau oft he Tr easury(BTr )
,De partmentof
BudgetandManagement( DBM) ,andt heCOA.
c. The obj ectives of gener al pur pose financi al st
at ement s (GPFSs) ar e to pr ovi
de
information aboutt hefinanci alposi ti
on,financi alper formance,and cash flowsofan
 Page |2

entit
yt hati
sus ef
ultoawi der angeofuser sin makingande valuat
ingdecis
ionsabout
the all
ocati
on ofr e
sour ces.Specifical l
y,the objecti
ves ofgener alpurpose financi
al
reporti
ngint hepubli
csec toraretopr ovi
deinformationus ef
ulfordecisi
on-making,and
todemons tr
atetheac countabil
ityoftheent i
tyfortheresourcesent r
ustedtoit.
d. TheDBM account sfort hecash,publicde btandr el
atedtransac t
ionsoftheNG.

6. Enti
tyA,a gover nmente nt
ity,hasan unused NCA of₱50,
000 attheend oft
hec urr
ent
year
.Theentryt orec ordt hereversi
onofunusedNCAi s
a. Subsi
dyf rom Nat ionalGov ernment
Cash- Modi fiedDi sbursement 50,
000
System (MDS) ,Regular 50,
000
b. AccumulatedSur plus/(Defici t
) 50,
000
Cash- Treasur y/AgencyDeposit,
Regul ar 50,
000
c. Subsi
dyf rom Nat ionalGov ernment 50,
000
Cash- Collecti
ngOfficer s 50,
000
d. Nojournalent r y
.

7. Whichoft hefol
lowingisnotoneoft her egi
stri
esmai ntai
nedbyagov
ernmentent
ity?
a. Regist
rie
sofJour nalsandLedger s
b. Regist
ryofAppr opri
ati
onsandAl l
otment s
c. Regist
rie
sofAl l
otments,Obligat
ionsandDi sbursements
d. Regist
rie
sofBudge t,Util
izat
ionandDi s
bur sements
e. Allofthesearemaintainedbyagov er
nmentent ity

8. Thi s account i
ng c onceptisnecessarys othatuser
sc an useinf
ormati
on i
nt he financi
al
statement sin notingdi ffer
encesand si mil
ari
ti
esbetween t
hoseinf
ormat
ion pr
esent
edand
informat ionf r
om ot hersourc
est hattheusermayhav e
.
a. Fi nanci alstatementanalysisandr ati
os
b. Under st
andabi li
ty
c. Compar abili
ty
d. Feedbac kv alueorconfir matoryv al
ue

9. Whi ch oft he f
oll
owi ng st
atement sis cor rectr e gar
ding t he Fundament alPr inci
ples f
or
DisbursementofPubl icFundsunderP.D. No. 1445?
a. No money shal lbe paid outofany publ ict reasury ordeposi t
orye xceptt hrough the
issuanc eofModi fiedDi sbursementSy stem Checks.
b. Gener all
y accepted pr i
ncipl
es and pr ac ti
ces of acc ounting as we l
l as of sound
managementandfis caladmi nist
rati
ons hal lbeobser v edandshal lbepr esumedt ohav e
higheraut hori
tyi ncaseswher ethesepr inciple sconfli c twiththelaw.
c. Tr ustfundsshal lbeavailabl
eandmaybes pentonl yf ort hespecificpur poseforwhi c
h
thet rustwascr eatedorthefundsr ecei
ved.
d. Alldisbursement sordispositi
onsofgov er nmentf undsorpr opertyshallinvar i
ablybear
theappr ovaloftheCOA.

10.During the period,Ent i

ty A,a gov er
nment enti
ty,wi t
hheld ₱100,000 t
axes from its
payment sto empl oyees and suppl i
ers.On September 14 ofthe currentyear,Ent i
tyA
remitt
edt hetaxeswi thhe l
dt otheBI RthroughTaxRemi ttanc
eAdvi c
e.Theent r
yt orecord
theremittanceinc l
udes
a. Cash-TaxRe mi t
tanceAdvi ce 100,000
Duet oBI R 100,000
b. Subsidyfrom Nat i
onalGov ernment 100,000
Cash- TaxRe mittanceAdvice 100,000
 Page |3

c. aandb
d. Noneoft
hese
.

11.Which of t he f
oll
owing pr i
ncipl
e sis not in accordance with t
he Basic Go
vernment
Acc
ount i
ngandBudge tReport
ingPr i
nci
plesundertheGAM f orNGAs ?
a. modi fiedaccrualbasisofacc ounti
ngi naccordancewiththePPSAS
b. budgetbasisforpr e
sentationofbudge tinf
ormationinthefinanci als
tat
ements(FSs)i
n
accordancewithPPSAS24
c. RCApr escri
bedbyCOA
d. financi alst
atement sbasedonbot hac count
ingandbudget aryrec
ords
e.f undc l
usteraccounting

12.The“Cash –Tr easury/AgencyDeposi t

,Re gular”accountisusedin whi
ch ofthef ol
lowing
tr
ansacti
ons?
a. Coll
ecti
ons from cus t
omer s ar
e made t hrough dir
ectdeposi
tint he ent
it y’
s account
maintai
nedwi thaGov ernmentSe r
vici
ngBank( GSB).
b. Taxeswithheldar eremittedt
ot heBIR.
c. Adisbursementaut hor i
tyintheform ofCashDi sbursementCei
li
ngisrecei
v ed.
d. Coll
ecti
onsofr evenuear eremit
tedtotheBTr .

13.TheNGAsar eresponsi
blefor
a. promul gati
ngaccount i
ngandaudi ti
ngr ul
esandregulati
ons.
b. imple ment i
ngt henationalbudge twi t
hthegoalofat
tainingthenation’ssocio-economic
objectives.
c.r eceivingandkeepi ngnat ionalfundsandmanagi ngandc ontr
oll
ingt hedisbur sements
thereof.
d. directlyi mplementi
ng the projects of
,and per
formi
ng thef unct
ions delegated by,the
gover nment .

14.The receiptofa di sbursementauthori

tyint he form ofNon-
Cash Av
ail
mentAut
hor
ity
(NCAA)i sdebitedtowhi chofthef
oll
owingaccounts?
a. Cash- Construct
iveIncomeRe mit
tance
b. Cash- ModifiedDi s
bursementSystem(MDS) ,Regul
ar
c. Account sPayable
d. Subsi dyfr
om Nat i
onalGovernment

15.Whichoft hefoll
owingeventsort
ransact
ionsr
equi
resr
ecor
dingi
nthebooksofac
count
sof
agovernmentent it
y?
a. Appropriat
ion
b. All
otment
c. DisbursementAuthority
d. I
ncur r
enceofObl i
gat
ion
e. Noneoft hese

16.Nojournale
ntryismadef
ort
her
ecei
ptoft
hist
ypeofdi
sbur
sementaut
hor
ity
.
a. NCA
b. NCAA
c. CDC
d. Noneofthese
.

17.Thebasisofaccount
ingrequir
edbyt
heGAM f
orNGAsi
s
a. Budgetbasis
b. Modifiedaccrualbasis
 Page |4

c. Cashbasi
s
d. Accr
ualbasi
s

18.ThePresident
’sexplanati
onoft hecountry’
sfiscalpol
icyandbudgetpr
ior
iti
esi
scont
ained
inadoc umentcall
edt he
a. Nati
onalExpendi t
urePr ogr
am
b. Pre
sident’
sBudge tMe ssage
c. Pre
sident’
sFiscalPoli
cyandPr i
oriti
es
d. BudgetofExpendi t
uresandSour cesofFinanci
ng

19.Aft
ertheincur r
enceofobl
igat
ions
,thenexts
tepi
nthebudge
tcyc
lei
s
a. All
otment
b. Disbursement
c. Appropriat
ion
d. Disbursementauthori
ty

20.Iti
st he expenditur
e aut hori
ty der
ived fr
om appropr
iat
ion laws,gover
nmentordinances
,
andotherdecisionsrelatedtotheant i
cipatedr
evenueorrecei
ptsforthebudget
aryperi
od.
a. Noti
ceofCashAl l
ocat i
on
b. Al
lotment
c. ApprovedBudget
d. GeneralAppr opr
iationsBill

21.Afterthebudgetcal
l,budge
thear
ings ar
emadewhereby agenci
esde
fend t
hei
rpr
oposed
programsandexpendit
uresf
ort
heupcomi ngy
earbe
for
ethe
a. COA
b. DBM
c. Congress
d. BTr

22.Under responsibil
it
y accounting,a costisconsidered contr
oll
able at a gi
ven lev
elof
manager i
alresponsibi
li
tyif
a. themanagerhast hepowert oincuri
twithi
nagi venperiodofti
me.
b. the cost is non-r
ecurri
ng,can be measur ed with suffici ent rel
iabi
lit
y and i
s not
immat eri
al
c.t hecos ti
safixedcos t,suchthatit
sincurr
encei sr
easonablycert
ain.
d. allofthese.

23.Nojournale
ntryismadef
oradi
sbur
sementundert
hismodeofdi
sbur
sement
.
a. LDDAP-ADA
b. CPC
c. eMDS
d. Noneofthese

24.Ent
ityA,agov ernme ntentit
y ,hadt hefoll
owingtransacti
onsduringtheperiod:
 Recei
vedNot ic
eofCashAl location( NCA)amount i
ngt o₱430,000.
 Earnedt ot
alr evenueof₱40, 000f rom bil
li
ngsandc oll
ecti
onsofunbill
edi ncome.
 Incurredtotale xpensesof₱240, 000.
 Remitted totalt axes wit
hhe ld of₱37, 000 t
ot he BIRthrough Tax Remi t
tance Advic
e
(TRA).
 The“ Cash- Modi fied Di sbur sementSy st
em (MDS) ,Regular
”hasan unused bal anceof
₱52,000att heendoft heper i
od.
 Page |5

How muc hi st
hesur
plus(
defici
t)f
ort
heper
iod?
a. 230,000
b. 215,000
c.( 200,000)
d. 178,000

Sol
uti
on:
Rev
enue 40,
000
Expenses (
240,000)
(
200,
000
Surpl
us(
Deficit)f
rom oper
ati
ons )
Subsi
dyf
rom NG (
NCA) 430,
000
Subsi
dyf
rom NG (
TRA) 37,
000
Unus
edNCA (
52,
000)
NetFi
nanci
alAssi
stance/Subsi
dy 415,
000
Sur
plus(
Defici
t)f
ort
heper
iod 215,
000

25.Thee
ntrytor ecordthegr anti
ngofcashadvanc eforpayr
ollf
undi
s
a. Sal
ar i
esandWages ,Regular xxx
PersonalEc onomi cReli
efAl l
owance( PERA) xxx
Duet oBI R xxx
Duet oGSI S xxx
Duet oPag- I
BIG xxx
Duet oPhilHealth xxx
Duet oOfficer sandEmpl oyee
s xxx
b. Advance sforPayroll xxx
Cash-Modi fiedDi s bursement
System (MDS) ,Regular xxx
c. Duet oOfficer sandEmpl oyees xxx
Advancesf orPayrol
l xxx
d. Cash- Coll
ecti
ngOffic ers xxx
Advance sforPayroll xxx

26.Which ofthefoll
owingt r
ansactionsisnotrecordedthrough acredittot
he“
Cash-
Modi
fied
Dis
bur sementSystem(MDS) ,Regul ar
”account?
a. ReversionofunusedNCAatt heendoftheper i
od.
b. Paymentofaccount spayablewher ei
nthetaxpor t
ioniswithheld.
c. Grantingofcashadvancef orpayroll
.
d. Cons t
ructi
veremitt
anc eoftaxeswi t
hhel
dt otheBIR.

27.Whic h ofthe fol

lowi
ng s t
atement s bestdi ffer entiat
est he governmentacc ounting process
fr
om t heaccountingprocessofabus i
ne ssentity?
a. Thegov ernmentaccount ingpr ocessi nvol
vesnumer ouscompl i
catedstepsorpr ocedures
thatarebey ondtheunder st
andi ngofamer eJPI Amember ,butnotforaCPA.
b. The gov ernment account ing pr oce ss i
nvol ves pr ocedur es that are not gener al
ly
acceptableforbusinessent i
ties.
c. Thegov ernmentacc ountingpr ocessi ssimilartot hatofabus i
nessent i
ty,exceptthatit
incorporate
s budget aryc ont r
ols, suc h as r ecording in t he budget r egi
stri
es and
preparingper i
odi
cbudge taccount abili
tyrepor t
s.
 Page |6

d. Unlikefort
heaccount
ingprocessofbusi
nessentit
ieswhi
chendsintheprepar
ati
on of
generalpur
posefinancialst
atements
,thegover
nmentaccount
ingpr
ocessendswiththe
auditbytheCOA.

28.Thisr epor t
,requi
red ofgov
ernmentent i
tie
s,showst he namesofc redi
tors,t
he amounts
owed t ot hem,and the numberofdays t hese obli
gations ar
e out
standing.Thisrepor
tis
submi ttedtotheCOAandDBM wi t
hin30daysaf tertheendoft heyear.
a. ListofNotYe tDueandDemandabl eObligat
ions
b. Agi ngofDueandDemandabl eObligat
ions
c. Per centageofObl
igati
onsRe port
d. Repor tonAl l
otments,Obli
gationsandDi sbursement s

29.Undert hisapproacht o budget

ing,sev
eralpar
tie
s par
tic
ipat
einthe budge
tpr
epar
ati
on,
st
arti
ngf rom thel
owestlevelsofthegov
ernmentuptothehighes
tle
vel
s.
a. Bottoms-upbudge t
ing
b. Zero-basedbudgeti
ng
c.Incr ementalbudgeti
ng
d. Bottom-upbudge t
ing

30.A gov
ernmentent it
yrecognizesrevenuef r
om e xchangeornon- exchange t
ransacti
ons.In
whichofthefol
lowingtr
ansac ti
onsdoesagov er
nmentent i
tyneednotrecognizer
evenue?
a. Exchangeofgoodsorservicesofdissi
mi l
arnat ureandvalue.
b. Recei
ptofanuncondi t
ionalgrantfr
om af oreigngovernment.
c. Recei
ptofequipmentasdonat ionfr
om agood- hear
ted,pri
vateindi
vidual.
d. Recei
ptofapledge.

31.A gov
ernmentent i
tyremitt
ingcoll
ect
ionstotheBTrwil
lde
bitt
hisac
countt
orecor
dthe
remit
tance.
a. Cash-Treasury/AgencyDeposi
t,Regular
b. Cash–Col lect
ingOfficer s
c. Cash-Modi fiedDi sbur
sementSystem (
MDS),Re
gul
ar
d. Subsidyfrom Nati
onalGovernment

32.Accordingt
oP.D.1445,gov ernmentent iti
esshal lacknowledgereceipt
sofrevenue
a. throughtempor aryrec
eipts;pr
ovidedapr i
orappr ovalbyCOAi sobtai
ned.
b. throughtheissuanceofpr oper
lyendor sedc hecks.
c.t hroughduplicatecopieswhichshallnotbet heexactc opi
esoft heori
ginal
.
d. throughpre-
number edoffici alrecei
pts.

33.Itr
eferstoaf und whi
ch i
sav
ail
abl
eforanypur
poseot
hert
han t
hosewhi
ch ot
herf
unds
havebeendesignatedt
o
a. Generalfund
b. Majorfund
c. Regularfund
d. All
-purposefund

34.Theserefertotransact ionsi nwhichoneenti

tyrecei
vesasset
sorservi
ces,orhasliabi
li
ti
es
ext
inguis
hed,anddi r ectl
ygivesapproxi
mate
lyequalvaluetoanot
herenti
tyinexchange.
a. Exchangetr ansact i
ons
b. Non-exchanget ransac ti
ons
c. Non-reci
procaltr ansac ti
ons
d. Exter
nale ventsot hert hantransf
ers

35.Thi
sre
fer
stoc
har
gesf
ort
heuseofcashorcashe
qui
val
ent
s,oramount
sduet
otheent
ity
.
 Page |7

a. Financialexpenses
b. Personnelser vi
ces
c.I nter
estincome
d. Capitaloutlays

36.A governmententityrecordsat ransacti

on bydebi tingan accountwi
th aRe vi
sed Char
tof
Account( RCA)Codet hats tart
swi th“ 1”and cr edit
ingan accountwi
th an RCA Codet hat
st
ar t
swi th“4.
”Thist r
ansac ti
oni smostl ike
lya
a. cons tr
ucti
veremittanceoft axeswi t
hheldt ot heBIRthroughTRA.
b. remi tt
anceofcoll
ectiontotheNat i
onalTr easury.
c. paymentofacc ount spayable.
d. receiptofi
nter
-agencyf undt ransfer
.

37.Which of the f
oll
owing government agenci
es wil
l mos
tl i
kel
y be abl
eto obt
ain a
di
sbursementauthori
tyi
nt heform ofCashDisbur
sementCei
li
ng(CDC)
?
a. DA
b. NI
A
c. DOLE
d. DENR

38.Enti
tyA,agov ernmentent i
ty,bil
ls₱200,000 f
orCommunicat
ionsNet
workFee
s.Whi ch of
thef
oll
owingisthecor r
ec tentryforthebill
ing?
a. Cash- Coll
ectingOfficer s 200,
000
Communi cationsNe tworkFees 200,
000
b. Cash- ModifiedDi sbursementSy s
tem (MDS)
,Regul
ar 200,
000
Communi cationsNe tworkFees 200,
000
c. Account sreceiv
abl e 200,
000
Subsidyf r
om Nat i
onalGov e
rnment 200,
000
a. Acc
ount sreceivable 200,
000
Communi cationsNe tworkFees 200,
000

39.A governmentent itywi l

lreportsurplusinitsstat
ementoffinanci alper
formancei n which
ofthefollowi nginstances?
a. The r evenue and expense summar y account is credit
ed when closi
ng to t he
accumul atedsur plus(deficit)account
.
b. The t otalde bi
tsi nt he st
atementoffinanci alperfor
mance columns i
nt hewor ksheet
exceedt hetotalcredits
.
c. Thet otaldebitsint hes t
atementoffinanci alposi
ti
on columnsinthewor kshee
te xceed
thet otalcredits.
d. Alloft hese.

40.Thebe stestimat
ef oralossis₱100,
000.However,t
heenti
tyde
liberat
elyover
stat
edt
hel
oss
to₱120, 000.Whichoft hefol
lowi
ngquali
tat
ivechar
act
eri
sti
csi
svi ol
ated?
a. Prudence
b. Reliabil
it
y
c. aandb
d. Nothingi svi
olated

41.Duringt heper iod,Enti

tyA,agov ernmententi
tyapproveda₱400, 000payrol
landgranted
the Di s
bur sing Offic er a cash advance of ₱280,000, ne
t of wit
hholdi
ng taxes and
cont
r i
but ions to GSIS, Phi
lHealt
h and Pag-IBI
G. The pr o-
forma ent
ryt or ec
ordt he
li
qui
dat ionoft hepayrol
lfundis
a. SalariesandWages ,Regul
ar xxx
 Page |8

PersonalEc onomi cReli

efAl l
owance( PERA) xxx
Duet oBI R xxx
Duet oGSI S xxx
Duet oPag- I
BIG xxx
Duet oPhilHealth xxx
Duet oOfficer sandEmpl oyee
s xxx
b. Advance sforPayroll xxx
Cash-Modi fiedDi s bursement
System (MDS) ,Regular xxx
c
. Duet oOfficer sandEmpl oyees xxx
Advancesf orPayrol
l xxx
d. Cash- Coll
ecti
ngOffic ers xxx
Advance sforPayroll xxx

42.Which oft
hefoll
owi
ngmodesofdi
sbur
sement
swoul
dresul
ttot
her
ecogni
tion ofa l
oan
payabl
einbooksoft
heBTr
?
a. NCAA
b. CDC
c. ADA
d. AWAN

43.Ther
ecei
ptofani
nter
-agencyf
undt
rans
feri
srec
ordedas

a. Cash-Coll
ectingOfficer s xxx
Subsidyf r
om Nat i
onalGov e
rnment xxx
b. Cash-ModifiedDi sbursementSy st
em (MDS)
,Regular xxx
Duet o(Centr
alOffic e
,Re gi
onalOffic e, xxx
Operati
ngUni tsorOt herFunds)
c
. Cash-Coll
ecti
ngOfficer s xxx
Duet o(Centr
alOffic e
,Re gi
onalOffic e, xxx
Operati
ngUni tsorOt herFunds)
d. Cash-ModifiedDi sbursementSy st
em (MDS)
,Regular xxx
Accumul at
edSur plus(Defici t
) xxx

44.Ar
ranget
hef
oll
owi
ngaccount
sint
heseque
ncet
heyappeari
nthet
rialbal
ance
.

I. PermitFees
II
. All
owancef orI
mpairment
-Ac
count
sRe
cei
vabl
e
I
II. Duet oBIR
I
V. Salar
iesandWages-Regul
ar
V. AdvancesforPayr
oll

a. II
,V,III
,IandI
V
b. II
,II
I,V,IandI
V
c. V,II
,III
,IandI
V
d. II
,V,I,II
IandI
V

45.Theentrytoclosethe“ Cash- Tr
easury/AgencyDe
posi
t,Re
gul
ar”accountatt
heendoft
he
peri
odis
a. AccumulatedSur plus/(Deficit) xxx
Cash-Treasur y/AgencyDeposit
,
Regular xxx
b. Subsi
dyf rom NationalGov e
rnment xxx
Cash-Treasur y/AgencyDeposit
,
 Page |9

Regular xxx
c
. Cash-
Collecti
ngOfficer s xxx
Cash-Treasur
y/AgencyDeposi
t,
Regular xxx
d. Noneofthese.Theaccountisnotcl
osed.

46.This account is debit

ed when gov e
rnment e
nti
tie
sr emi
tcol
lec
tions t
othe Nat
ional
Treasury.
a. Cash- ModifiedDi sbur
sementSyst e
m(MDS),Regul
ar
b. Cash- Coll
ecti
ngOffic er
s
c. Cash-Tre
asury/Agenc
yDe posi
t,Re
gul
ar

d. Cas
h-T
axRe
mit
tanc
eAdvi
ce

47.Alloft
heaboveinvol
vest hephysicaltransf
erofcashexc ept
a. Remit
tanceoftaxesthrought heTaxRe mi t
tanceAdvi ce
b. Remit
tanceofcoll
ecti
onsofr evenuet otheNationalTr easur
y
c. Remit
tanceofempl oy
eecontr i
butionstoGSI S,Pag-I
BI G andPhi
lHeal
th
d. Remit
tanceofexcesscashadv ancebyanoffic er

48.EntityA,agov ernme ntenti

ty,haswi thheldatot
alof₱800,000from t
hesalarypaymentsto
itsemployeesr epr e
sent i
ngcontributions tot
heGSI S,Pag-IBI
G and Phil
Healt
h.Thepr o-
forma entryt or ecordt he remittance ofthe cont
ribut
ions tothe GSI S,Pag-
IBI
G or
PhilHeal
this
a. DuetoGSI S/Pag- IBIG/Phi l
Heal t
h xxx
Cash- TaxRe mit
tanceAdvi ce xxx
b. DuetoGSI S/Pag- IBIG/Phi l
Heal t
h xxx
Cash- Col l
ecti
ngOfficer s xxx
c. DuetoGSI S/Pag- IBIG/Phi l
Heal t
h xxx
Cash- Modi fiedDi sbursement
System ( MDS) ,Regul
ar xxx
d. Nojournalent ry
.

49.Thebudgetpreparationi
nt hePhilippines
a. star
tswit
ht heBudgetCal lfr
om t heBTr.
b. usesa“zero-
bottoms-up”appr oach.
c. endswit
ht heissuanceoft he“ Bic
am Ver
sion”byt
heBi
camer
alCommi
ttee
.
d. usesanon- i
ncrementalapproac h.

50.Chooset hecorr
ects
tat
ement
.
Typeoft ax Taxabl
eevent
a. Incometax  Purc haseorsaleoft axabl
egoodsorservi
ces
b. Valueaddedt ax  Ear ningoftaxableincome
c. Customsdut y  Under taki
ngofat axableacti
vit
y
d. Propert
yt ax  Passageoft hetimeper iodforwhicht
hetaxisl
evi
ed

51.Enti
tyA acquir
e sequipmentf rom asuppl i
er,on account
.A l
endersett
lestheaccountof
Enti
tyA bydirectlypayingthesuppl i
ertheproceedsofaloan pay
abl
et hati
srecorded i
n
theBTr’
sbooks.Thi smodeofdi sbursementiscall
ed
a. CashDisbursementCe ili
ng(CDC)
b. Advi
cetoDe bitAccount(ADA)
c. Non-CashAvailmentAut hority(NCAA)
d. Noti
ceofTrans f
erofAllocat
ion( NTA)
 P a g e | 10

52.Underthist ypeofdisbur
sementaut hori
ty,disbur
sement saremadeoutoft
heent
ity’
sown
bankaccountr atherthanthrought heTr easurySingleAccount
.
a. Di
sbur sementt hr
oughAdvi cetoDe bitAccount(ADA)
b. Di
sbur sementt hr
oughCashDi sbursementCei li
ng(CDC)
c. Di
sbur sementt hr
oughe l
ectroni
cModi fiedDi sbursementSyst
em (
eMDS)
d. Di
sbur sementt hr
oughNon- CashAvai lmentAut hori
ty(NCAA)

53.Theentrytore
cordther ec
eiptofadi sbursementauthori
tyinthefor
m ofCas hDisbur
seme
nt
Cei
li
ng(CDC)is
a. Cash-Construct
iveIncomeRe mittance xxx
Subsidyfrom Nat i
onalGov ernment xxx
b. AccountsPayable xxx
Subsidyfrom Nat i
onalGov ernment xxx
c. AccountsPayable xxx
Cash-Modi fiedDi sbursementSystem(MDS) ,Regul
ar xxx
d. Cash-ModifiedDi s
bur sementSyst em(MDS),Regular xxx
Subsidyfrom Nat i
onalGov ernment xxx

54.Anent
ityaccr
uessal
ari
esandwage
saf
terappr
ovalofpayr
oll
.Thee
ntr
yis

a. Salar
iesandWages,Regul ar xxx
Per
sonalEc onomicRe l
iefAll
owance(PERA) xxx
Cash-Modi fiedDi sbursementSys t
em (MDS)
,
Regular xxx
b. Sal
ariesandWage s,Re gul
ar xxx
Per
sonalEc onomicRe l
iefAll
owance(PERA) xxx
Advanc estoOfficer sandEmpl oyees xxx
c
. Sal
ariesandWages,Re gular xxx
Per
sonalEc onomicRe l
iefAll
owance(PERA) xxx
Duet oBI R xxx
Duet oSSS xxx
Duet oPag- I
BI G xxx
Duet oPhilHeal t
h xxx
Duet oOfficer sandEmpl oyee
s xxx
d. Sal
ariesandWage s,Re gul
ar xxx
Per
sonalEc onomicRe l
iefAll
owance(PERA) xxx
Duet oBI R xxx
Duet oGSI S xxx
Duet oPag- I
BI G xxx
Duet oPhilHeal t
h xxx
Duet oOfficer sandEmpl oyee
s xxx

55.EntityA,agov er
nmentent i
ty,grantsa₱10,000cashadv anceforthetrave
lli
nge xpensesof
an empl oyee.Thee mployee l
iqui
dates₱8,
000 oft he c
ash advanc
e and remi t
st heexcess
cash adv ance of₱2,000.Afterrecordi
ng the gr
antofcash advanc e and the l
iqui
dation
thereofbutbef oreadjust
me ntforthecoll
ecti
on oftheexcesscash advance,how muc his
ther ec
or dedexpenseinthebooksofaccount s
?
a. ₱0
b. ₱2, 000
c. ₱8, 000
d. ₱10, 000
 P a g e | 11

56.Entity A, a gover
nment ent it
y,r eceives it
s Not i
ce of Cash Allocat
ion amounti
ng t
o
₱5,000,000fortheyear.Thejournale ntr ytorecor
dt hi
se venti
s
a. Cash-ModifiedDi sbursementSy stem (
MDS) ,Regular 5, 000,000
Subsidyfrom Nati
onalGov e
r nment
5,
000,
000
b. Cash-Coll
ect
ingOfficer s 5,
000,000
Subsidyfrom Nati
onalGov e
r nment 5,
000,
000
c. Cash-TaxRemittanceAdvice 5,
000,000
Duet otheNat i
onalGover nment 5,
000,
000
d. Nojournalentr
y .

57.Entit
yA,a g ov
ernmentent it
y,receivesnotic
eofi t
s₱10M appropriat
ion f
ortheyear.The
jour
nalent rytorecordthiseventis
a. Cash-ModifiedDi sbursementSy s
tem (MDS),Regul
ar 10,000,000
Subsidyfrom Nati
onalGov e
rnment
10,
000,000
b. Cash-Coll
ecti
ngOfficer s 10,000,000
Subsidyfrom Nati
onalGov e
rnment 10,
000,000
c. Cash-TaxRe mit
tanceAdvice 10,000,000
Duet otheNat i
onalGov er
nment 10,
000,000
d. Nojournalentry.

58.Entit
yA,agov ernmentent it
y,r ec
ei v
esi t
s₱9M al
lotment.Thej
ournalent
ryt
orecor
dthis
eventis
a. Cash-ModifiedDi sbur sementSy s
tem (
MDS),Regular 9,000,
000
Subsidyfrom NationalGov e
rnment
9,
000,
000
b. Cash-Coll
ect
ingOfficer s 9,000,
000
Subsidyfrom NationalGov e
rnment 9,
000,
000
c. Cash-TaxRemittanceAdvi ce 9,000,
000
Duet otheNat i
onalGov ernment 9,
000,
000
d. Nojournalentr
y .

59.Thejournalent ryt or ecordthecollec

tion ofunbi
ll
edtaxrevenue(
e.g.
,Trave
lTax)t
hrough
di
rec
tdepositi nAut hor i
zedAgentBanksi s
a. Account sRecei vable xxx
Trav elTax xxx
b. Cash-Modi fiedDi sbursementSy stem (
MDS),Regul
ar
Tr ave lTax xxx
xxx
c. Cash-Col lecti
ngOfficer s xxx
Trav elTax xxx
d. Cash-Tr easur y/AgencyDeposi t
,Re gular xxx
Trav elTax xxx

60.Which of the foll

owing reflec ts a Non-
Cash Avai
lment Aut
hor
ity (NCAA) mode of
di
sbursement?
a. AccountsPayabl
e xxx
Cash-Constr
uc ti
veIncome
Remitt
ance xxx
b. AccountsPayabl
e xxx
Cash–Modi fiedDi sbur
sement
Syst
em (MDS) ,Regular xxx
 P a g e | 12

c
. AccountsPayabl
e xxx
Subsidyfr
om Nat
ionalGov
ernment xxx
d. Noneoft hese
.

“Go ahead and be lazy; sleep on, but you will go hungry.” (Proverbs 19:15)

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