Podcast
Questions and Answers
What is the legal basis for government accounting for budgetary accounts?
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?
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?
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?
Which principle dictates that all disbursements must have the approval of proper officials?
Which accounting aspect must be observed to ensure sound management and fiscal administration?
Which accounting aspect must be observed to ensure sound management and fiscal administration?
What serves as the legal authorization to use public money for the national government's PAPs?
What serves as the legal authorization to use public money for the national government's PAPs?
What is the key difference between Performance-informed budgeting (PIB) and traditional line item-based budgeting?
What is the key difference between Performance-informed budgeting (PIB) and traditional line item-based budgeting?
In what way does Zero-based budgeting differ from Incremental budgeting?
In what way does Zero-based budgeting differ from Incremental budgeting?
Which type of budget links funding to achieved outcomes and provides a framework for more informed resource allocation and management?
Which type of budget links funding to achieved outcomes and provides a framework for more informed resource allocation and management?
What type of information is presented in the appropriations document for Performance-informed budgeting?
What type of information is presented in the appropriations document for Performance-informed budgeting?
Which type of budget is adjusted when a previous inadequate budget needs correction?
Which type of budget is adjusted when a previous inadequate budget needs correction?
What aspect of government activities does the National government budget plan for financing?
What aspect of government activities does the National government budget plan for financing?
