CapB - Knowledge Check

The guidelines on the release of funds for FY 2021 are contained in what budget circular?

• NBC No. 583

• NBC No. 385

• NBC No. 835

• NBC 358

The budget cycle consists of four phases. Which is not included?

• Budget Preparation

• Budget Authorization

• Budget Termination

• Budget Accountability

Government funds or property shall be spent solely for public purposes.

• TRUE

• FALSE

Refers to the actual amounts spent or paid out of the budgeted amounts.

• Disbursements

• Budget

• Obligation

• Allotment

Refers to acquisition of goods, consulting service and contracting for infrastructure projects.

• SHOPPING

• PROCUREMENT

• BIDDING

• CANVASS

In procurement, which is not considered as Goods?

• Equipment

• Office Supplies

• School Buildings

• Repairs

It is an alternative method of procurement where the procuring entity simply requests for the submission of price quotations for readily available off-the-shelf goods or ordinary/regular equipment to be procured directly from suppliers of known qualifications.

• SHOPPING

• DIRECT CONTRACTING

• NEGOTIATED PROCUREMEMT

• REPEAT ORDER

It is a form used to pay an obligation to employees/individuals/agencies/creditors for goods purchased or services rendered.

• Purchase Request

• Purchase Order

• Disbursement Voucher (DV)

• Contract

Claims against government funds shall be supported with complete documentation.

• TRUE

• FALSE

Disbursements or disposition of government funds or property shall invariably bear the approval of the proper officials.

• TRUE

• FALSE