SK Quiz 1

What is the appropriate basis in the preparation of Summary of Budget, Commitments, 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)

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

Balances

• Project

• Purpose

• Plan

• Program

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

• True

• False

• I don't know

• Both a and b

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

• True

• False

• I don't know

• Both a and b

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 consolidated Quarterly Statement of Receipts and Payments (QSRP)

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

There are three (3) SK Financial Statements in accordance with the Cash Basis Accounting of the International Public Sector Accounting Standards (IPSAS). Which of the following is NOT prescribed by IPSAS and is classified as Other SK Reports?

• Statement of Receipts and Payments

• Bank Reconciliation Statement

• Notes to Financial Statements

• Statement of Comparison of Budget and Actual Amounts

The _____ and _______ are prepared by the Budget Monitoring Officer (BMO) every quarter. These are based on the Registries of Budget, Commitments, Payments and Balances (RBCPB) and the Registries of Specific Purpose Fund, Commitments, Payments and Balances (RSPFCPB), respectively.

• QSRP and ASRP

• BRS and SCBAA

• RBCPB and RSPFCPB

• SBCPB and SSPFCPB

The Statement of Receipts and Payments (SRP) shows the details of the cash received/paid, increase or decrease in cash, as well as the balance of cash during the period. It is prepared by the __________ quarterly and annually.

• SK Chairperson

• Municipal Accountant

• Budget Monitoring Officer

• SK Treasurer