Revenue Management and Legal Compliance Quiz
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Questions and Answers

Where should all revenues accruing to an entity be deposited?

  • National treasury or any duly authorized government depository (correct)
  • NGO funds
  • International financial institutions
  • Private bank accounts

    • What must a public officer do with money and property officially received?

  • Transfer it to a private account
  • Donate it to charity organizations
  • Use it for personal investments
  • Account for it as government funds and government property (correct)

    • When should receipts be recorded as revenue of Special, Fiduciary or Trust Funds, or Funds other than the General Fund?

  • At the discretion of the collecting officer
  • When authorized by law (correct)
  • Based on personal judgment
  • To expedite fund disbursement

    • What should a collecting officer immediately issue upon collecting payment of any nature?

    <p>Official receipt (OR)</p> Signup and view all the answers

    In what manner should cash receipts be acknowledged if mechanical devices are used?

    <p>Electronic official receipts</p> Signup and view all the answers

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