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Questions and Answers
Where should all revenues accruing to an entity be deposited?
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?
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?
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?
What should a collecting officer immediately issue upon collecting payment of any nature?
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In what manner should cash receipts be acknowledged if mechanical devices are used?
In what manner should cash receipts be acknowledged if mechanical devices are used?
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