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Session 2 - Budget

Authored by Dessaries Gow

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Professional Development

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Session 2 - Budget
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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

  1. Depending on the agency’s authority, how many funds should the agency maintain in accordance with the GAM?

  1. Five (5)

  1. Six (6)

  1. Seven (7)

  1. Eight (8)

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

  1. This registry shall be maintained by fund cluster by the Budget Division/Unit of each government entity to ensure that allotment releases are within the authorized appropriation.

  1. Registry of Revenue and Other Receipts (RROR)

  1. Registry of Appropriations and Allotments (RAPAL)

  1. Registry of Allotments, Obligations and Disbursements (RAOD)

  1. Registry of Budget, Utilization and Disbursements (RBUD)

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

  1. The incurrence of budget utilization shall be made through the issuance of ___________. It is used by the Requesting/Originating Offices in the utilization of their approved budget allocations for off budgetary and custodial funds such as internally generated funds, business related funds and trust funds.

  1. Budget Utilization Request and Status (BURS)

Notice of Budget Utilization Request and Status Adjustment (NBURSA)

  1. Notice of Obligation Request and Status Adjustment (NORSA)

  1. Obligation Request and Status (ORS)

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

  1. NORSA is used by the Accounting Division/Unit to adjust excess/under-obligation. In addition to adjusting excess and under-obligation, a NORSA shall be prepared to adjust the obligation of the following transactions, except:

  1. Disallowances pertaining to expenses incurred during the validity period of the budget that became final and executory during the same period

  1. Over/Underpayment of expenditures during the year

  1. Refund of cash advance granted during the year

  1. None of the above 

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

  1. This serves as the obligational authority for the comprehensive release of budgetary items appropriated in the GAA, categorized as For Comprehensive Release (FCR).

  1. General Appropriations Act Allotment Order (GAAAO)

  1. Special Allotment Release Order (SARO)

  1. General Allotment Release Order (GARO)

  1. Allotment

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

  1. It is an act of a duly authorized official which binds the government to the immediate or eventual payment of a sum of money. It may be referred to as a commitment that encompasses possible future liabilities based on current contractual agreement.

  1. Disbursement

  1. Obligation

  1. Allotment

  1. None of the above

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

  1. This report shall reflect the appropriations, the allotments received, the obligations, the disbursements made and balances for the reporting period.

  1. BAR No. 1 - Quarterly Physical Report of Operation

  1. FAR No. 1 - Statement of Appropriations, Allotments, Obligations, Disbursements and Balances

  1. FAR No. 1-A - Statement of Appropriations, Allotments, Obligations, Disbursements and Balances by Object of Expenditures

  1. FAR No. 1-B - List of Allotments and Sub-Allotments

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