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IA Planning

Total questions: 5

Worksheet time: 3mins

Name
Class
Date
1.

The __________is responsible for the sound and efficient management of the financial resources of the government by formulating, institutionalizing, and administering fiscal policies in coordination with other agencies of the government; generating and managing the financial resources of government; supervising the revenue operations of all local government units; and reviewing, approving, and managing all public sector debt, domestic or foreign. It is also responsible for the rationalization, privatization, and public accountability of corporations and assets owned, controlled, or acquired by the government.

a)

National Tax Research Center (NTRC)

b)

Bureau of Local Government Finance (BLGF)

c)

Bureau of Internal Revenue (BIR)

d)

Department of Finance (DOF)

2.

______ is a government instrumentality created in 1963 by virtue of Republic Act 3591 to insure the deposits of all banks. _____ exists to protect depositors by providing deposit insurance coverage for the depositing public and help promote financial stability.

a)

Philippine Deposit Insurance Corporation (PDIC)

b)

Bureau of Internal Revenue (BIR)

c)

National Tax Research Center (NTRC)

d)

Bureau of Local Government Finance (BLGF)

3.

The ______ shall be under the supervision and control of the Department of Finance and its powers and duties shall comprehend the assessment and collection of all national internal revenue taxes, fees, and charges, and the enforcement of all forfeitures, penalties, and fines connected therewith, including the execution of judgments in all cases decided in its favor by the Court of Tax Appeals and the ordinary courts. The Bureau shall give effect to and administer the supervisory and police powers conferred to it by this Code or other laws. (Section 2 of the National Internal Revenue Code of 1997)

a)

Bureau of Customs (BOC)

b)

Bureau of Internal Revenue (BIR)

c)

Philippine Deposit Insurance Corporation (PDIC)

d)

Securities and Exchange Commission (SEC)

4.

The ______ shall assist in formulation and implementation of policies on local government revenue administration and fund management; It provides a catalyst role in assisting LGUs in development and implementation of Real Property Tax Administration (RPTA) projects;

a)

Central Board of Assessment Appeals (CBAA)

b)

Securities and Exchange Commission (SEC)

c)

Bureau of Local Government Finance (BLGF)

d)

Bureau of the Treasury (BTr)

5.

The _______ implements an effective revenue collection by preventing and suppressing smuggling and the entry of prohibited imported goods. It supervises and controls the entrance and clearance of vessels and aircrafts engaged in foreign commerce. It also enforces the Tariff and Customs Code of the Philippines and all other laws, rules and regulations related to tariff and customs administration.

a)

Bureau of Customs (BOC)

b)

Bureau of the Treasury (BTr)

c)

Central Board of Assessment Appeals (CBAA)

d)

Securities and Exchange Commission (SEC)