SESSION 1:DISBURSEMENT - IUEEUE

Financial Transactions and operations of any government agency shall be governed by the fundamental principles set forth in__________

Government funds or property shall be spent or used solely for public purposes. The term "public" is affected by the number of persons who will use or benefit from such expenditure.

• TRUE

• FALSE

• EITHER TRUE OR FALSE

• I DONT KNOW

Claims against government funds shall be supported with original documents.

• FALSE

• TRUE

• NEITHER TRUE OR FALSE

• I DON'T HABE ANY IDEA

An event or condition which gives rise to an entry in the accounting record.

A type of audit which examines the efficiency and effectiveness of programs, activities and projects of any government agency.

A notice of suspension is a temporary disallowance hence it should first be issued before a Notice of Disallowance

• TRUE

• FALSE

When an expenditure is found to be irregular/unnecessary/excessive/extravagant/unconscionable, the auditor shall issue a Notice of Disallowance

• TRUE

• FALSE

Generally accepted accounting principles and practices shall be observed, provided that they do not contravene existing laws and regulations

• TRUE

• FALSE

All government agencies, instrumentalities or its subsidiaries including GOCCs shall be under the jurisdiction of COA to examine, audit, and settle all accounts pertaining to the revenue and receipts of, and expenditures or uses of funds and property. However, they may be exempted if there is a law exempting them.

• FALSE

• TRUE

The period to appeal a decision of the auditor to the Regional/Cluster Director as provided under PD 1445 and COA Rules and Regulations.