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(Activity No. 1)

BSBA Financial Management (Bicol University)

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Multiple Choice: Nahihirapan ka na bang pumili kung sino or alin sa kanila? Pero
mas mahirap piliing gawin ang naiaatas na pagsusulit/homework sa dami ng pwede
mong panoorin sa Netflix or sa goal mon a mapanood lahat ng Kdrama series na
nasa watchlist mo? Englishin natin ang dapat mong gawin para di ka na mahirapan
at nakacaps lock na din para mas madali mong makita.--- SELECT THE
BEST/CORRECT ANSWER AND HIGHLIGHT IN FULL YOUR CHOICE INSTEAD OF
DRAWING A STAR/CIRCLE AROUND THE LETTER. YOU CAN SHOW YOUR ARTISTIC
SKILLS IN YOUR PHOTO EDITS
1. It is the system of prescribing the procedures for recording
appropriations, allotments and obligations.
a. Fund Accounting
b. Budgetary Accounting
c. Obligation Accounting
d. Government Accounting
2. Its main concern is the availability and use of funds for public
services.
a. Commission on Audit
b. Department of Finance
c. Bureau of Treasury
d. National Budgetary System
3. It is a statement of estimated receipts and estimated expenses of
the government, which serves as basis for a General Appreciation
Act.
a. Statement of financial position
b. Statement of operations
c. National government budget
d. Local government budget
4. Which department prepares the national budget, which serves as
the basis of the General Appropriation Act?
a. Executive Department
b. Legislative Department
c. Judiciary Department
d. National Government Agencies/ Units
5. It is the legislative consideration, review and approval of the
national budget.
a. Preparation
b. Authorization
c. Execution
d. Accountability
6. It is the implementation of the national budget by different
departments and release of allotments.
a. Budget preparation
b. Budget authorization
c. Budget execution
d. Budget accountability
7. It denotes the responsibility to others that one or more persons
have for their actions and behavior.
a. Preparation
b. Accountability
c. Authorization
d. Execution
8. As specifically provided for in the New Constitution, no money shall
be paid out of the National Treasury EXCEPT in the pursuance of:
a. Budget
b. President’s executive order
c. Fund
d. Appropriation
9. It is the legislative authorization to make payments out of
government funds under specified conditions and specific purposes.
a. Appropriation
b. Allotment
c. Obligation

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d. Budgeting
10. It is the authorization from the Department of Budget and
Management to an agency to incur obligation up to specified amount
that must be within the legislative appropriation.
a. Obligation
b. Appropriation
c. Allotment
d. Fund release
11. It is the amount committed to be paid by the government
arising from an act of a duly authorized administrative officer and
which binds the government to the immediate and eventual payment
of money.
a. Obligation
b. Appropriation
c. Allotment
d. Commitment
12. It is the functions and activities necessary for the performance
of a major purpose for which a government entity is established.
a. program
b. project
c. resources
d. internal control
13. The journal entry to be made in the books of government
agencies/units upon receipt of Notice of Cash Allocation is
a. Cash – MDS, Regular
Subsidy from National Government
b. Cash in bank – Local Currency, Current Account
Subsidy from National Government
c. Cash in bank – Local Currency, Savings Account
Subsidy from National Government
d. Cash in bank – Local Currency, Time Deposit
Subsidy from National Government
14. The budgetary accounts in government accounting is consist of
the following:
a. Allotment, obligation, and liquidation
b. Appropriation, liquidation, and Notice of Cash Allocation
c. Appropriation, allotment, and obligation
d. Allotment, liquidation, and Notice of Cash Allocation
15. It is the formal document issued by the Department of Budget
and Management to the head of the agency containing the
authorization, conditions and amount of allocation.
a. Special Allotment Release Order
b. Allotment and Obligation Slip
c. Notice of Cash Allocation
d. Registry Allotment and Obligation
16. In government accounting, which of the following is a Personal
Service?
a. Telephone charge
b. Rent
c. Meal allowance for overtime work
d. Salaries and wages
17. In government accounting, which of the following is a capital
outlay?
a. Salaries and wages
b. Repairs and maintenance
c. Land improvement
d. Merchandise inventory
18. It is the annual documents required at the onset of the budget
execution phase, which contain the agencies’ targets and plans for
the current year.
a. Agency budget matrix (ABM)
b. Annual Cash Program (ACP)

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c. Budget Execution Documents (BEDs)

d. Budget Accountability Report (BARs)
19. It is a budget execution document that serves as an overall
plan of the government agency encompassing the targeted outputs
and estimated obligations broken down by quarter.
a. Physical and Financial Plan (PFP)
b. Monthly Cash Program (MCP)
c. Estimate Monthly Income (
d. List not yet due and demandable obligations
20. It is a component of Budget Accountability Reports (BARs) that
should be reported on monthly basis.
a. Monthly Cash Program
b. List not yet due and demandable obligations
c. Estimate of monthly income
d. Statement of allotments, obligations and balances
21. 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 (TRA)
b. Notice of Cash Allocation (NCA)
c. Non-Cash Availment Authority (NCAA)
d. Cash Disbursement Ceiling (CDC)
22. According to NBC No.551 dated January 2,2014, government
agencies are required to submit to the Department of Budget and
Management their plans, programs and targets for the year using
the Budget Execution Documents (BEDs) on or before
a. January 1
b. January 31
c. November 30
d. December 31
23. It is a budget where the proposed expenditures are equal or
less than the estimated revenues.
a. Annual budget
b. Supplemental budget
c. Balanced budget
d. Line-item budget
24. It is a budgeting approach that uses performance information
to assist in deciding where the funds will go.
a. Performance informed budgeting
b. Zero-based budgeting
c. Performance-based budgeting
d. Line-item budgeting
25. It is a phase of budget cycle that starts upon the receipt of
President’s budget by the House of Speaker and ends with the
President’s enactment of the General Appropriation Act.
a. Budget preparation
b. Budget legislation
c. Budget execution and operation
d. Budget accountability
26. A budget, the basis of which are objects of expenditure.
a. Annual budget
b. Special budget
c. Line-item budget
d. Supplemental budget
27. A budget of special nature and generally submitted in special
forms on account that itemizations are not adequately provided in
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

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d. Supplemental budget
28. This document outlines the priority areas of government
activity applicable to the budget year.
a. Budget message
b. Budget proposal
c. Budget call
d. Budget calendar

29. In government accounting which of the following is

Maintenance and Other Operating Expense (MOOE).
a. Night Shift Differential
b. Janitorial Services
c. Honorarium
d. Salaries and wages
30. It Is the budget release document that shall serve as
obligational authority that replaced the Agency Budget Matrix.
a. General Appropriations Act Release Document (GAARD)
b. Allotment Release Program (ARP)
c. Budget Execution Documents (BED)
d. Budget Accountability Reports (BAR)
31. It is the expenditure authority derived from laws,
appropriations, bills, government ordinances and other decisions
related to anticipated revenue or receipts for the budgetary period.
a. Annual budget
b. Approved budget
c. Appropriation
d. Allotment
32. This form shall be used by the requesting offices in the
utilization of their approved budget allocation per General
Appropriations Act Release Document (GAAARD) and other
budgetary laws/authority; and shall be maintained by fund cluster.
a. Budgetary Utilization Requests and Status
b. Request Obligation and Allotment
c. Obligation Requests and Status
d. Notice of Obligation Requests and Status Adjustments

Essay: Dahil sa ECQ ngayon, madami kang oras para magisip. Makikisiksik na din
sa mga iniisip mo ang mga katanungang patungkol kay GovAcc para naman hindi
ulam or meryenda ninyo ngayong lockdown ang tanging iniisip ninyo or kung
kamusta na ba ng bf/gf ninyo. Dahil dito, makakaiwas din kayo sa posibleng away
na maaring mabuo dahil nawawalan na siya ng oras sa iyo at lalo na’t magkalayo
kayo at puro ML/PUBG/DOTA inaatupag ni bf or binge watching/movie
marathon/makeup tutorial/photo edits with “tulo-tulo/drop stickers”/selfies naman
kay gf; or maari din na isa sa mga pinagtutuunan mo ng pansin ay iyong patungkol
sa complaints/hinaing laban sa Online learning at nung mayroong 1-month
extension of classes: nagcomplain ka pa din? Mahalagang pagtuunan din ng pansin
ang mga problema ng bayan gaya ng mga katanungang nakalahad dito:
1) What is the General Accounting Plan of government
agencies/units?
 The General Accounting Plan simply shows the overall accounting
system of a government agency/unit. It involves source documents,
the flow of transactions, and the conversion into financial
information presented in the financial reports.

Enumerate and explain the accounting systems in the NGAS national.

 Budgetary Account System - this system encompasses the
processes of preparing the budget released document, monitoring
and recording of allotments received by the agency from the
Department of Budget and Management, releasing of Sub-Allotment
Advices to Regional Offices by the Central Offices, Issuance of Sub-

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Allotment Advices to Operating Units by the Regional Office, and

recording and monitoring of obligations.
 Receipts/Income and Depository System - this system covers
the processes of acknowledging and reporting income/collections,
deposits of collections with Authorized Government Depository
Bank or through the Authorized Government Depository Bank for
the account of Treasurer of the Philippines, and recording of
collections and deposits in the books of accounts of the agency.
 Disbursements System - this involves the preparation and
processing of disbursements voucher, prepare and issuance of
check; payment by cash; granting, utilization, and liquidation or
replenishment of cash advances.
 Financial Reporting System – this includes the preparation and
submission of trial balances, financial statements and other reports
needed by fiscal and regulatory agencies.

2) Explain the national budget.

 A national budget is a financial statement that gives any estimate
of the planned revenue and planned expenditure of the government
(for taxes and fees, and spends it on things like national defense,
infrastructure, grants for research, education, and the arts, and
social programs) for one particular financial year.

3) Discuss briefly the budget process/cycle.

 Budget planning enables the government to plan and manage its
financial resources to support the implementation of various
programs and projects that best promote the development of the
country. Four phases comprise the Philippine budget process,
specifically: (1) Budget Preparation; (2) Budget Legislation;
(3) Budget Execution; and (4) Accountability.

(1) Preparation - This covers estimation of government revenues,

the determination of budgetary priorities and activities within
the constraints imposed by available revenues and by borrowing
limits, and the translation of approved priorities and activities
into expenditure levels. Estimates are prepared by the various
government agencies, reviewed and finalized by the President of
the Philippines, and then submitted to the Legislative
Department as basis for the preparation of the annual
Appropriation Act.
(2) Legislation - It is the second phase of the budget process
relative to the enactment of the General Appropriation Bills
based on the budget of receipts and expenditures submitted by
the President of the Philippines within 30 days from the opening
of its regular session, as the basis of the general appropriation
bill.
(3) Execution - The third phase of the budget process covers the
various operational aspects of budgeting. It is comprised, among
others, of the following: the establishment of authority ceilings
on obligations, the evaluation of work and financial plans for
individual activities, the continuing review of government fiscal
position, the regulation of funds release, the implementation of
cash payment schedules and other related activities such as
updating of planning and scheduling of activities. The
responsibility for monitoring budget execution and operation
rests primarily with the Department of Budget and Management
and secondarily with the National Treasury.
(4) Accountability - The last phase of budget process consists of
periodic reporting by the government agencies of performances
under their approved budget, top management review of
government activities and the fiscal policy implementations
thereof, and the actions of Commission on Audit is assuring the

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fidelity of officials and employees by carrying out the intent of

the National Assembly regarding the handling of receipts and
expenditures.

4) Enumerate and explain the obligational authorities prescribed by

the Government Accounting Manual (GAM).
 General Appropriation Act Release Document (GAARD) - this
will abolish the lengthy process of releasing allotments to
departments and agencies; thereby, enhancing the operational
efficiency of all agencies across the bureaucracy, allowing the DBM
to speed up government disbursements and fast-track the
implementation of programs and projects set for the year.
 Special Allotment Release Order (SARO) – this covers
budgetary items under For Later Release (FLR) in the entity
submitted to Budget Execution Documents (BEDs), subject to
compliance of required documents/clearances. Also covers releases
of allotments for Special Purpose Funds (SPF).
 General Allotment Release Order (GARO) - it covers
automatically appropriated expenditures common to most, if not all,
agencies without need of special clearance or approval from
competent authority.

5) Enumerate and explain the disbursement authorities prescribed

by the Government Accounting Manual (GAM).
 Notice of Cash Allocation (NCA) - this shall be used for the
disbursements arising from Modified Disbursement Checks issued,
including those charged against Notice of Transfer of Allocation, and
direct payments to external creditors per validated debit account in
the list of due and demandable accounts payable.
 Non-Cash Availment Authority (NCAA) - this is the authority
issued by the DBM to agencies to cover the liquidation of their
actual obligations incurred against available allotments for
availment of proceeds from loans/grants through supplier’s
credit/constructive cash.
 Cash Disbursement Ceiling (CDC) - this shall be used for
allocation of foreign service posts (FSP) of the Department of
Foreign Affairs (DFA) and Department of Labor and Employment
(DOLE) out of total income collected from these foreign service
posts.
 Notice of Transfer of Allocation (NTA) – this is the authority
issued by the Central Office to its regional and operating units to
pay their operating expenses, purchases of supplies and materials,
acquisition of PPE, accounts payable, and other authorized
disbursements through the issue of MDS checks, ADA or other
modes of disbursements.
Deadline of Submission: May 8, 2020
Where to submit: [email protected]
P.S.: Do not forget to state your name and section in the file. And no
cheating/ sharing of answer sheet files.

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