Government Accounting and Auditing

Which of the following is not an objective of government accounting?

• Produce information concerning past operations and present conditions.

• Provide a basis for guidance for future operations.

• Examining agreements to identify any possible conflicts of interest.

• Report on the financial position and the results of operations of government agencies for the information of all persons concerned.

How does the Presidential Decree No. 1445 Section 109 define government accounting?

• One that encompasses the process of analyzing, classifying, summarizing, and communicating all transactions that are involved in the receipt and disbursement of all government funds and properties, and interpreting the results thereof.

• Government Accounting produces relevant financial information about past and present transactions of the government.

• The analytical and systematic examination and verification of the financial transaction, operation, accounts, and reports of any government agency.

• A systematic process of obtaining and evaluating evidence regarding assertions about economic actions and events to ascertain the degree of correspondence between those assertions and established criteria and communicating the results to interested users.

What event led to the establishment of the Office of the Auditor for the Philippine Islands?

 

• The Philippine Independence Revolution

• The Spanish-American War

• The May 8, 1899 memorandum by President William McKinley

• The 1935 Constitution promulgation

What significant event prompted the renaming of the government auditing institution to the Commission on Audit (COA)?

• The promulgation of the 1935 Constitution

• The 1972 declaration of Martial Law

• The 1986 EDSA Revolution

• The 1987 Constitution

What was one of the primary motivations behind the establishment of the COA as a constitutional body in 1935?

• To reduce government expenditures

• To elevate the audit institution's status

• To centralize government finances

• To streamline the budget approval process

Which of the following is not included in the practices that the government uses in accounting?

• Double-Entry System

• Accrual Accounting

• Negative Entries

• The Use of Standard Accounting Chart

What kind of registry is used to keep track of actual revenue collections, budgeted amounts, and revenue and other receipts sent?

• Registries of Revenue and Other Receipts (RROR)

• Registries of Appropriations and Allotments (RAPAL)

• Registries of Allotments, Obligations, and Disbursements (RAOD)

• Registries of Budget, Utilization and Disbursements (RBUD)

The Commission on Audit requires this document in order to certify allotment and obligation and to make future modifications to expenses.

• Notice of Cash Allocation

• Tax Remittance Advice

• Obligations Request and Status

• Notice of Transfer of Allocation

Which of the following is NOT a core group of organization responsible for budgeting, accounting, and auditing arrangements in the Philippines?

• Department of Budget and Management (DBM)

• Commission on Audit (COA)

• Bureau of the Treasury (BTr)

• Local Government Units (LGUs)

The primary function of the Bureau of the Treasury (BTr) is to:

• Design and prepare the annual budget.

• Oversee the proper allocation of public funds.

• Manage cash operations of the national government.

• Evaluate the effectiveness of internal controls.