Session 4 – Receipts/Collections and Deposits of SK Funds
Authored by Enerkim Thomson
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KG - Professional Development
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6 questions
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1.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
SK funds shall be deposited in a savings account under the name of the SK of the barangay concerned in GOB/AGDB situated in or nearest its area of jurisdiction, with the SK Chairperson and SK Treasurer as the official signatories.
True
False
Answer explanation
Answer: False
SK funds shall be deposited in a CURRENT ACCOUNT and not in a savings account.
2.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
It is strongly encouraged for the SK to open and maintain a depository account in a bank other than the bank and branch of its barangay.
True
False
Answer explanation
Answer: False
The word “other than the bank” makes the statement incorrect because it should be on the same bank and branch of the barangay, for efficiency and economy purposes.
3.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Where travel time to the GOB/AGDB is more than one day, deposits shall be made at least once a week or as soon as the collections reach P10,000.
True
False
Answer explanation
Answer: False
Where travel time to the GOB/AGDB is more than one day, deposits shall be made at least once a week or as soon as the collections reach P5,000.00, not P10,000.
4.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
The official signatories in the current account of the SK are the SK Chairperson and SK Treasurer.
True
False
Answer explanation
Answer: True
SK Chairperson and SK Treasurer are the official signatories.
5.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
The SK Chairperson, SK Treasurer and SK Secretary shall comply with the bonding requirements prescribed in Section 305 (f) of RA No. 7160, Bureau of the Treasury (BTr) Treasury Circular No. 02-2009 dated August 6, 2009 and DILG Memorandum Circular No. 99-186 dated October 11, 1999.
True
False
Answer explanation
Answer: False
Only the SK Chairperson and SK Treasurer shall comply with the bonding requirements. The SK Secretary is not required to be bonded.
6.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Issue of a provisional receipt is allowed.
True
False
Answer explanation
Answer: False
The issue of a temporary or provisional receipt is NOT allowed. ORs or validated DSs/CMs (for collections directly deposited to the SKs bank account) are the best evidence/supporting documents for collections/receipts.
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