Podcast
Questions and Answers
Who is primarily responsible for government resources entrusted to a government agency?
Who is primarily responsible for government resources entrusted to a government agency?
- The government officials in charge
- The head of the government agency (correct)
- The COA (Commission on Audit)
- The employees using the resources
What is the role of a government officer entrusted with government resources?
What is the role of a government officer entrusted with government resources?
- Properly bond every accountable officer
- Be accountable for safekeeping resources in accordance with the law (correct)
- Share fiscal responsibility with others
- Implement policies efficiently
Under what circumstance can an accountable officer be relieved from liability?
Under what circumstance can an accountable officer be relieved from liability?
- When acting based on peer advice
- When losses are due to force majeure
- When notified a superior officer in writing about illegal utilization (correct)
- When following the COA's instructions
Who is primarily liable for losses resulting from unlawful use or negligence in safekeeping government resources?
Who is primarily liable for losses resulting from unlawful use or negligence in safekeeping government resources?
What must an accountable officer do in case of any loss of government funds from unforeseen events (force majeure)?
What must an accountable officer do in case of any loss of government funds from unforeseen events (force majeure)?
What is the personal liability of an employee found to be directly responsible for the unlawful use of government resources?
What is the personal liability of an employee found to be directly responsible for the unlawful use of government resources?
What is the main focus of government accounting compared to accounting for business entities?
What is the main focus of government accounting compared to accounting for business entities?
Which of the following is NOT an objective of government accounting as per the State Audit Code of the Philippines?
Which of the following is NOT an objective of government accounting as per the State Audit Code of the Philippines?
What are the processes involved in government accounting?
What are the processes involved in government accounting?
Which statement best describes the role of government accounting in decision-making?
Which statement best describes the role of government accounting in decision-making?
What is a key difference between government accounting and accounting for business entities according to the text?
What is a key difference between government accounting and accounting for business entities according to the text?
In government accounting, what is emphasized regarding entities entrusted with government funds and properties?
In government accounting, what is emphasized regarding entities entrusted with government funds and properties?
