lOMoARcPSD|31481729
Pa ge |1
FI
RSTGRADI
NG EXAMI
NATI
ON
1. Whati st helegalbasi
soft heCOAinpr
omulgati
ngt heGAM f
orNGAs?
a. RevisedPenalCode ,Art.217
b. Stat eAuditCodeoft hePhi l
ipi
nes,P.
D.No.1 45,Sec.109
c. Ar
ticl
eIX-
D,Sec ti
on2par .(2)ofthe1987Cons ti
tut i
onoftheRepubl
i
cofthe
Phil
ipines
d.R. A.9298
2. TheGAM f
orNGAsai mst oupdatealofthefolowingexcept
a. standar ds ,pol i
cies,guideli
nesandpr ocedur esinacount i
ngforgover
nmentf
u
ndsand pr oper ty
b. codings truc tureandacount s
c. acount i
ngb
o.
ks,regi
stri
es,recor ds,forms,report
sandfinancials t
atements d
rulesandr egulationsr egar
dingthefil
i
ngandpaymentoft axesbygovernme
nt
empl oye s
3. Whichoft hef olowi
ngi soneoft heFundament alPr i
ncipl esf orRevenueundert he
GAM f
or NGAs ?
a.
Nopaymentofanynat ur eshalber eceivedbyacol ect i
ngofficerwithouti m
medi atel
y
isui nganofficialreceiptinacknowl edgementt her eof.Ther eceiptmaybei nt h
ef orm of pos tage,internalrevenueordocument arys t ampsandt he
li
ke,offici
al ynumber ed
receipts,subj
ectt opropercustody
,acount abili
ty,andaudi t.
b. Tempor aryrecei
pt smaybeisuedt oacknowl edget her eceiptofpubl icfunds;
pr ovi
ded
that ,anoffici
alrec ei
ptisisuedwi t
hinas hor tper i
odoft i
measmaybepr es cr
ibe
dby t heCOA.
c. Mone yint hehandsoft heCol ec ti
ngOfficermaybeut i
li
zedf orthepur poseofc
ashi ng pri
vatechecks ,upon pr operendor sementandi dent i
ficati
on
oft hepayeorendor se. Checksdr awn i
n favoroft hegovernmenti n
paymentofanysuch i
ndebt
ednesshal
li
ke wisebeacept edbyt heofficerconcer ned.
d. Aloft hese
4. Whichofthefolowi
ngisnotoneoft heFundament alPri
nci pl
esforDi sbursementofPubl i
c
Fundsundert heGAM f orNGAs ?
a. Nomone yshalbepai doutofanypubl i
ct r
easur yordeposi t orye xcepti npur s
uanceof ana pr opr
iati
onl aw orot
hers pecifc
i s t
atut oryaut horit
y.
b. Governmentf undsorpr oper tyshalbes pentorusedsol e l
yf orpubl i
cpurpose
s.
c. Trustfundss halbeavai l
abl eandmaybes pentonl yfort hes peci ficpur
pos
eforwhicht het rustwascr eatedort hefundsr eceiv
ed.
d.
Fi
scalresponsibi
l
ityshal,tot hegreatestextent,beasumedsol e l
ybyt heHeadoft he
governmentagency .
5. Whichofthef
olowi
ngstat
ement
si sincor
ectregar
dingt
heGAM f
orNGAs?
a. TheCOA shalk ep t hegeneralacount softheGover
nmentand,f
orsuch
per
iod as maybepr ovi
dedbylaw,preservethevouchersandothersu
, lOMoARcPSD|31481729
Pa ge |2
porti
ngpaper sper tai
ning thereto,pursuantt oSect i
on2,par .(
1),Ar
ticl
eIX-
D
ofthe1987Phi l
ipineCons ti
tution.
b. The financi alreporti
ng syst em ofthe Phi lipine gover nmentconsi s ts
ofacount i
ng sys tem on acr ualbasis and budgetr epor ti
ng sys t
em on
budgetbasis under t he s t atutory r esponsi
bi
li
ty oft he NGAs,Bur eau
ofthe Treasur y (BTr)
,Departmentof
Budge tandManagement( DBM) ,andt heCOA.
c. The object i
ves ofgener al pur pose financi al s tatement s( GPFSs) ar et o
provi
de inf
ormat i
on aboutt hefni ancialposi ti
on,fni ancialper f
or mance,and
cashflowsofan
Downloaded by Zaounxosakub ()
, lOMoARcPSD|31481729
Pa ge |3
entit
yt hatisuse fultoawi der angeofuser si nmaki ngande valuat ingdeci si
on
sabout t he alocati
on ofr esour ces.Speci fical y
,t he obj ect i
ves
ofgener alpur pose financial
reporti
nginthepubl i
csect orar etoprovi
dei nf
or mat i
onusef ulf ordeci sion-
maki ng,and
todemons tr
atet heacount abi
l
ityoft
heent i
tyfort her esour cesent r
us tedt oi t.
d. TheDBM acount sf
ort
hecash,pubi
lde
c btandr
el
at
edtr
ansact
onsoft
i heNG.
6. Ent
ityA,agovernmentent i
ty,hasan unusedNCA of₱ 50, 0
attheendoft hecu r ent year .Theent r
ytor
ecor
dther
ever
sionofunusedNCAi
s
a. Subsi dyfrom
Nat i
onalGove rnment 50,0
Cash- Modi fiedDi sbur sement
Syst em ( MDS),Regul ar 50, 0
b. A cumul at edSur plus/(Defici
t) 50 ,0
Cash-Tr easur y/AgencyDeposi t,
Regul ar 50, 0
c. Subsi dyfrom Nat i
onalGov ernment 50 ,0
Cash- Col ec ti
ngOfficer s 50, 0
d. Noj our nalent ry.
7. Whichoft hefolowingi
snotoneoft heregi
s t
ri
esmai ntai
nedbyagov
e r
nmenten
t.
i
ty? a Regi s tr
iesofJour nalsandLedger s
b. Regi
s tryofA pr
opri
at i
onsandAl otment s
c. Regi
s tri
esofAl otment s,Obl i
gati
onsandDi sbursements
d. Regi
s t
riesofBudge t,Uti
l
izati
onandDi sbursement s
e. Alofthesear emai ntai
nedbyagover nmentent i
ty
8. Thi
sacount i
ngconcepti snecesar ysot hatuserscan useinf
ormat
ion i
n
thefinanci
al s tatement sinnot i
ngdiferencesandsimil
ari
ti
esbetw
ent hosei nf
or mat i
onpr esent edand i nfor
mat i
onf
rom
othersour cest hatt heusermayhave .
a. Fi
nancialstat ementanal ysi
sandr ati
os
b. Understandabi l
ity
c. Compar abi
li
ty
d.Fedbackval ueorconfr
i matoryval
ue
9. Which oft he fol owi ng statement sis cor ectr egar
ding the
FundamentalPr
i
nc i
ples f or DisbursementofPubl i
cFundsunderP.D. No. 1445?
a. Nomoneyshalbepai d
outofanypubl i
ct reasuryordeposi t
or yexceptt hrough the
isuanceofModi fiedDisbur sementSys tem Checks .
b. Generaly acept ed pr i
nci
pl
es and pr act
ices of acount i
ng as wel as
of sound
managementandfis caladmi nistr
at i
onshalbeobser vedandshalbepr esu
medt ohav e higheraut horit
yincas eswher et hes eprinci
plesconfi
lctwiththelaw.
c. Trustfundss halbeavai lableandmaybes pentonl yf
ort hes peci
ficpur
pos
eforwhicht het rus twascr eatedort hef undsr eceived.
d.
Aldisbursement sordi sposi t
ionsofgover nmentf undsorpr oper t
yshali nvari
abl
ybear t hea pr ovaloft heCOA.
10. Duri
ng t he per i
od,Ent i
ty A,a governmentent i
ty,withhel
d ₱1 0, 0 t axes
f
rom i t
s payment s t o employes and su pl i
ers.On September14 oft he
cu r
entyear
,Ent
i
ty A
remitedt hetaxeswi t
hhe l
dtotheBI
Rt hroughTaxRemit anceAdvi
ce.Theent
ryt or
ecordt heremitanc ei
nc l
udes
Pa ge |1
FI
RSTGRADI
NG EXAMI
NATI
ON
1. Whati st helegalbasi
soft heCOAinpr
omulgati
ngt heGAM f
orNGAs?
a. RevisedPenalCode ,Art.217
b. Stat eAuditCodeoft hePhi l
ipi
nes,P.
D.No.1 45,Sec.109
c. Ar
ticl
eIX-
D,Sec ti
on2par .(2)ofthe1987Cons ti
tut i
onoftheRepubl
i
cofthe
Phil
ipines
d.R. A.9298
2. TheGAM f
orNGAsai mst oupdatealofthefolowingexcept
a. standar ds ,pol i
cies,guideli
nesandpr ocedur esinacount i
ngforgover
nmentf
u
ndsand pr oper ty
b. codings truc tureandacount s
c. acount i
ngb
o.
ks,regi
stri
es,recor ds,forms,report
sandfinancials t
atements d
rulesandr egulationsr egar
dingthefil
i
ngandpaymentoft axesbygovernme
nt
empl oye s
3. Whichoft hef olowi
ngi soneoft heFundament alPr i
ncipl esf orRevenueundert he
GAM f
or NGAs ?
a.
Nopaymentofanynat ur eshalber eceivedbyacol ect i
ngofficerwithouti m
medi atel
y
isui nganofficialreceiptinacknowl edgementt her eof.Ther eceiptmaybei nt h
ef orm of pos tage,internalrevenueordocument arys t ampsandt he
li
ke,offici
al ynumber ed
receipts,subj
ectt opropercustody
,acount abili
ty,andaudi t.
b. Tempor aryrecei
pt smaybeisuedt oacknowl edget her eceiptofpubl icfunds;
pr ovi
ded
that ,anoffici
alrec ei
ptisisuedwi t
hinas hor tper i
odoft i
measmaybepr es cr
ibe
dby t heCOA.
c. Mone yint hehandsoft heCol ec ti
ngOfficermaybeut i
li
zedf orthepur poseofc
ashi ng pri
vatechecks ,upon pr operendor sementandi dent i
ficati
on
oft hepayeorendor se. Checksdr awn i
n favoroft hegovernmenti n
paymentofanysuch i
ndebt
ednesshal
li
ke wisebeacept edbyt heofficerconcer ned.
d. Aloft hese
4. Whichofthefolowi
ngisnotoneoft heFundament alPri
nci pl
esforDi sbursementofPubl i
c
Fundsundert heGAM f orNGAs ?
a. Nomone yshalbepai doutofanypubl i
ct r
easur yordeposi t orye xcepti npur s
uanceof ana pr opr
iati
onl aw orot
hers pecifc
i s t
atut oryaut horit
y.
b. Governmentf undsorpr oper tyshalbes pentorusedsol e l
yf orpubl i
cpurpose
s.
c. Trustfundss halbeavai l
abl eandmaybes pentonl yfort hes peci ficpur
pos
eforwhicht het rustwascr eatedort hefundsr eceiv
ed.
d.
Fi
scalresponsibi
l
ityshal,tot hegreatestextent,beasumedsol e l
ybyt heHeadoft he
governmentagency .
5. Whichofthef
olowi
ngstat
ement
si sincor
ectregar
dingt
heGAM f
orNGAs?
a. TheCOA shalk ep t hegeneralacount softheGover
nmentand,f
orsuch
per
iod as maybepr ovi
dedbylaw,preservethevouchersandothersu
, lOMoARcPSD|31481729
Pa ge |2
porti
ngpaper sper tai
ning thereto,pursuantt oSect i
on2,par .(
1),Ar
ticl
eIX-
D
ofthe1987Phi l
ipineCons ti
tution.
b. The financi alreporti
ng syst em ofthe Phi lipine gover nmentconsi s ts
ofacount i
ng sys tem on acr ualbasis and budgetr epor ti
ng sys t
em on
budgetbasis under t he s t atutory r esponsi
bi
li
ty oft he NGAs,Bur eau
ofthe Treasur y (BTr)
,Departmentof
Budge tandManagement( DBM) ,andt heCOA.
c. The object i
ves ofgener al pur pose financi al s tatement s( GPFSs) ar et o
provi
de inf
ormat i
on aboutt hefni ancialposi ti
on,fni ancialper f
or mance,and
cashflowsofan
Downloaded by Zaounxosakub ()
, lOMoARcPSD|31481729
Pa ge |3
entit
yt hatisuse fultoawi der angeofuser si nmaki ngande valuat ingdeci si
on
sabout t he alocati
on ofr esour ces.Speci fical y
,t he obj ect i
ves
ofgener alpur pose financial
reporti
nginthepubl i
csect orar etoprovi
dei nf
or mat i
onusef ulf ordeci sion-
maki ng,and
todemons tr
atet heacount abi
l
ityoft
heent i
tyfort her esour cesent r
us tedt oi t.
d. TheDBM acount sf
ort
hecash,pubi
lde
c btandr
el
at
edtr
ansact
onsoft
i heNG.
6. Ent
ityA,agovernmentent i
ty,hasan unusedNCA of₱ 50, 0
attheendoft hecu r ent year .Theent r
ytor
ecor
dther
ever
sionofunusedNCAi
s
a. Subsi dyfrom
Nat i
onalGove rnment 50,0
Cash- Modi fiedDi sbur sement
Syst em ( MDS),Regul ar 50, 0
b. A cumul at edSur plus/(Defici
t) 50 ,0
Cash-Tr easur y/AgencyDeposi t,
Regul ar 50, 0
c. Subsi dyfrom Nat i
onalGov ernment 50 ,0
Cash- Col ec ti
ngOfficer s 50, 0
d. Noj our nalent ry.
7. Whichoft hefolowingi
snotoneoft heregi
s t
ri
esmai ntai
nedbyagov
e r
nmenten
t.
i
ty? a Regi s tr
iesofJour nalsandLedger s
b. Regi
s tryofA pr
opri
at i
onsandAl otment s
c. Regi
s tri
esofAl otment s,Obl i
gati
onsandDi sbursements
d. Regi
s t
riesofBudge t,Uti
l
izati
onandDi sbursement s
e. Alofthesear emai ntai
nedbyagover nmentent i
ty
8. Thi
sacount i
ngconcepti snecesar ysot hatuserscan useinf
ormat
ion i
n
thefinanci
al s tatement sinnot i
ngdiferencesandsimil
ari
ti
esbetw
ent hosei nf
or mat i
onpr esent edand i nfor
mat i
onf
rom
othersour cest hatt heusermayhave .
a. Fi
nancialstat ementanal ysi
sandr ati
os
b. Understandabi l
ity
c. Compar abi
li
ty
d.Fedbackval ueorconfr
i matoryval
ue
9. Which oft he fol owi ng statement sis cor ectr egar
ding the
FundamentalPr
i
nc i
ples f or DisbursementofPubl i
cFundsunderP.D. No. 1445?
a. Nomoneyshalbepai d
outofanypubl i
ct reasuryordeposi t
or yexceptt hrough the
isuanceofModi fiedDisbur sementSys tem Checks .
b. Generaly acept ed pr i
nci
pl
es and pr act
ices of acount i
ng as wel as
of sound
managementandfis caladmi nistr
at i
onshalbeobser vedandshalbepr esu
medt ohav e higheraut horit
yincas eswher et hes eprinci
plesconfi
lctwiththelaw.
c. Trustfundss halbeavai lableandmaybes pentonl yf
ort hes peci
ficpur
pos
eforwhicht het rus twascr eatedort hef undsr eceived.
d.
Aldisbursement sordi sposi t
ionsofgover nmentf undsorpr oper t
yshali nvari
abl
ybear t hea pr ovaloft heCOA.
10. Duri
ng t he per i
od,Ent i
ty A,a governmentent i
ty,withhel
d ₱1 0, 0 t axes
f
rom i t
s payment s t o employes and su pl i
ers.On September14 oft he
cu r
entyear
,Ent
i
ty A
remitedt hetaxeswi t
hhe l
dtotheBI
Rt hroughTaxRemit anceAdvi
ce.Theent
ryt or
ecordt heremitanc ei
nc l
udes
