WorksheetsE-Payment
Total questions: 10
Worksheet time: 5mins
Refers to the disbursement of money or equivalent electronic representations of legal tender, for purposes of paying government expenditures, solely through electric means as opposed to the use of cash, check or physical notes to accomplish the same.
Intermediaries
Electronic Payment
Electronic Collection
Front-end System
The mode of electronic payment wherein the payments are made by the government entity itself using the intermediary’s technology or infrastructure.
Direct Electronic Payment
Transfer-Distribute-Liquidate
Collect-Aggregate-Remit
Self-Collect and Credit
It is a type of electronic payment wherein the government entity’s funds are transferred to the intermediary’s possession and control, which the latter thereafter uses to distribute payments to the intended payees of the government entity.
Direct Electronic Payment
Self-Collect and Credit
Collect-Aggregate-Remit
Transfer-Distribute-Liquidated
eOR or AR shall be accepted as proof of payment for the transaction.
True
False
Bonding is required under the Direct Electronic Payment.
True
False
Resort to the use of credit cards even if there are other modes of payments that are more expeditious and inexpensive.
True
False
As (a) control mechanism in using ADA facility, the AGDB shall be required to submit a Certified List of Successful Fund Transfers.
Conduct a (a) reconciliation of the funds transferred to intermediaries and the amount disbursed.
All e-payments shall follow existing procedures on disbursements.
True
False
Documentation of internal control in the use of credit card shall be submitted to the Audit Team for evaluation and ________.
verification
review
approval
certification
