SK Financial Statements Quiz

SCBAA stands for Statement of Comparison of Budget and Allotment Amounts.

• True

• False

The SK Treasurer shall post the Quarterly Statement of Receipts and Payments in the barangay bulletin board and in at least __________ conspicuous places within the jurisdiction of the barangay, and if possible, include the use of traditional and non-traditional media.

• 2

• 3

• 4

• 5

In preparation of Bank Reconciliation Statement, the overstatement of recorded checks issued will cause the cash balance to be __________

• Overstated

• Understated

What is the most appropriate basis in preparing the Annual Statement of Receipt and Payments?

• The consolidated Register of Cash Receipts, deposits and Other Related Financial Transactions (RCRD)

• The consolidated Register of Cash in Bank and other Related Financial Transactions (RCB)

• The Quarterly Statement of Receipts and Payments (QSRP) (1st to 4th Quarter)

• The Summary of Budget, Commitments, Payments and Balances (SBCPB)

This statement/report is used to provide additional information about liabilities and some non-cash assets such as receivables, supplies and materials, and property and equipment.

• Bank Reconciliation Statement (BRS)

• Statement of Comparison of Budget and Actual Amounts (SCBAA)

• Notes to Financial Statements (NFS)

• Report of Accountability for Accountable Forms (RAAF)

SSPFCPB stands for Summary of Specific __________ Fund, Commitments, Payments and Balances

• Project

• Purpose

• Plan

• Program

The Report of Accountability for Accountable Forms (RAAF) should be prepared by:

• SK Treasurer

• Budget Monitoring Officer

• COA Auditor

• SK Chairperson

What is the appropriate basis in the preparation of Summary of Budget, Commitment, Payments and Balances (SBCPB)?

• Register of Cash Receipts and Deposits and Other Related Financial Transactions (RCRD)

• Register of Cash in Bank and other Related Financial Transaction (RCB)

• Registries of Budget, Commitments, Payments and Balances (RBCPB)

• Registries of Specific Purpose Fund Commitments, Payments and Balances (RSPFCPB)

Failure on the part of the SK official concerned to submit the documents and reports mentioned herein shall automatically cause:

• the suspension of SK official until he/she shall have complied with the requirements of COA

• the suspension of the entire SK until they have complied with the requirements of COA

• the removal of SK official concerned until he/she have complied with the requirements of COA

• the suspension of payment of any amount due them until they have complied with the requirements of COA

SBCPB and SSPFCPB shall be prepared in 2 copies. The original copy shall be submitted to the Accountant while the photocopies shall be submitted to SB and retained by the SK.

• True

• False

• I don't know

• Both a and b