1* Statement: When goods are sold or services are rendered in exchange for dissimilar goods or services, the exchange is not regarded as a transaction which generated revenue. and

2 Statement: When goods or services are exchange or swapped for a goods. Or services are of a similar nature and value, the exchange is regarded a transaction which generates revenue.

According to the GAM for NGAs, all of the following criteria must be met before a government entity recognizes revenue from the sale of goods, except

(a)  

Gifts, donations and goods in-kind with condition are recognized

According to GAM for NGAs, which of the following may never give rise to revenue for a government entity?

A government entity recognizes revenue from exchange and non-exchange transaction. Which of the following may NOT give rise to the revenue by a government entity?

Which of the following does not give rise to the revenue from assistance or subsidy?

Which of the following best describes the Notice of Cash Allocation (NCA)?

Ist Statement: Government entities are allowed by law to make purchases using credit card. 2nd Statement: Due to strict internal control measures, a government entity can only disburse

Which of the following shall certify the availability of funds and completeness of supporting documents before the Head of the Agency or his/her authorized representative can enter into a contract that obligate the government for the eventual payment of a government fund?

It is a check chargeable against the account of the Treasurer of the Philippines

Account titles in the Revised Chart of Accounts (RCA) are arranged according to this sequence

Entity A, a government entity, receives notice that for the current year, the maximum amount it can spend on maintenance and other operating expenses is P1OB. This event can be described

Which of the following government agencies will most likely be able to obtain disbursement authority in the form of Cash Disbursement Ceiling (CDC)?

Entity A acquires an equipment on accounts and settles the account by debiting accounts payable and crediting subsidy from national government. The mode of disbursement used is most likely a/an

Entity A makes payment through bank transfer. This mode of disbursement is most likely through the use of a(an)

A government entity makes constructive remittance of taxes withheld to the BIR through Tax Remittance Advise (TRA). The entry in recording the transaction includes a

Which of the following may not be included in the inventories of the government entity?

Which of the following statements is incorrect regarding the accounting for unreleased checks by a government entity?

The entry to record a disbursement from the petty cash fund is

According to the GAM for NGAs, government entities shall prepare bank reconciliations

For government entities, inventories are assets (choose the incorrect one)

Entity A, a government entity, purchases office supplies. Entity A would most likely record the purchase

Which of the following documents is prepared when issuing semi-expendable property to end-users?

Which of the following is subsequently measured at the lower of cost and current replacement cost?

The carrying amount of inventory is not recognized as expense in this type of event or transaction.

Mr. A, a government employee entrusted with the custody of government funds, was instructed by Mr. B (a politician) to release funds for the acquisition of a car as a birthday gift for Mr. B's daughter who will be having her 18th birthday next week. To relieve Mr. A from any liability, what should Mr. A do?

Which of the following would most likely comes first in the budget process?

Ist Statement: Each entity of the National Government (NG) maintains complete set ofaccounting books by fund cluster which is reconciled with the records of cash transactions maintained by the BTr. 2nd Statement: Goverment resources must be utilized efficiently and effectively in accordance with the law.

The authority issued by DBM to NGAs or GOCCs to record the payment made by the lending institution direct to the supplier, consultants or contractors of a project.