Philippine Constitution: Accounting for Budgetary Accounts Quiz
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Questions and Answers

What is the legal basis for government accounting for budgetary accounts?

  • Financial reporting system
  • Fiscal responsibility
  • General Appropriations Act (GAA)
  • Philippine Constitution, Sec. 29 (1), Art.VI (correct)
  • Which of the following is NOT a component of budgetary accounts?

  • Allotments
  • Expenditures (correct)
  • Appropriations
  • Cash allocations
  • What is the primary purpose of government funds?

  • To be used solely for public purposes (correct)
  • To fund personal projects
  • To support political campaigns
  • To provide financial support to government officials
  • Which principle dictates that all disbursements must have the approval of proper officials?

    <p>Proper documentation</p> Signup and view all the answers

    Which accounting aspect must be observed to ensure sound management and fiscal administration?

    <p>Adherence to financial regulations</p> Signup and view all the answers

    What serves as the legal authorization to use public money for the national government's PAPs?

    <p>General Appropriations Act (GAA)</p> Signup and view all the answers

    What is the key difference between Performance-informed budgeting (PIB) and traditional line item-based budgeting?

    <p>PIB focuses more on outputs and outcomes, while traditional budgeting focuses more on inputs.</p> Signup and view all the answers

    In what way does Zero-based budgeting differ from Incremental budgeting?

    <p>Zero-based budgeting focuses on analyzing incremental changes, while Incremental budgeting presents activities in decision packages.</p> Signup and view all the answers

    Which type of budget links funding to achieved outcomes and provides a framework for more informed resource allocation and management?

    <p>Performance-informed budgeting</p> Signup and view all the answers

    What type of information is presented in the appropriations document for Performance-informed budgeting?

    <p>Both financial and non-financial performance information</p> Signup and view all the answers

    Which type of budget is adjusted when a previous inadequate budget needs correction?

    <p>Supplemental budget</p> Signup and view all the answers

    What aspect of government activities does the National government budget plan for financing?

    <p>Estimates of revenues and expenditures</p> Signup and view all the answers

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