PUBLIC FINANCE (MIDTERM ASSESMENT 1)

Means a feeling of belonging together.

• Community Sentiment

• Locality

• Society

• Community

Answer explanation

Community sentiment:

-Means a feeling of belonging together.

-It is “we-feeling” among the members.

refers to not a group of people but to the complex pattern of the norms of interaction that arise among them.

• Socialization

• Society

• Community

• Individual

Whenever the members of any group, small or large, live together in such a way that they share, not this or that particular interest, but the basic conditions of a common life, we call that group a ____________?

• Government

• Society

• Community

• Public

refers to fund obtained from repayable sources, such as loans secured by the government from financial institutions and other sources.

• Government expenditures

• Private borrowings

• Public borrowing

• Private Expenditure

This government agency has the power, authority and duty to examine, audit and settle all acoounts and expenditures of the funds and properties of the Philippine government.

• NAMFREL

• COA

• CSC

• SANDIGAN BAYAN

Mandated by Execuive Order No. 12 to assist the President in the campaign against graft and corruption.

• Commission on Audit

• Presidential Anti-Graft Commission

• Sandigan Bayan

• Civil Service Commission

The following are the Phaseson Budgetary Procedures except one.

• Preparation and Presentation

• Basic Accounting

• Budget Authorization

• Budget Accountability

• Budget Execution and Operation

A plan of financial operation composed of estimate or proposed expenditure for a given period or purposed and the proposed means of financing them.

• Accountability

• Expenditure

• Funds

• Budget

Compulsory contribution mandated by law and exacted by government for public purpose.

• VAT

• Tax

• Tax Revenue

• Direct Tax

Intended to promote the stabilization and development of the economy.

• Police Policy

• Indirect Tax

• Public Finance

• Fiscal Policy