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Chapter 3The Government Accounting ProcessQUIZ 1: Which of the following records is technically not considered an accounting book? a. General Journal b. Subsidiary Ledger c. Cash Disbursements Journal d. Registry of Appropriations and Allotments Which of the following is (are) affected when a govern...

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Chapter 3 The Government Accounting Process

QUIZ 1: 1. Which of the following records is technically not considered an accounting book? a. General Journal b. Subsidiary Ledger c. Cash Disbursements Journal d. Registry of Appropriations and Allotments 2. Which of the following is (are) affected when a government entity incurs obligations? a. ORS b. RAPAL c. RAOD d. a and c 3. Which of the following is (are) affected when a government entity makes disbursements to settle recorded obligations? a. ORS b. RAOD c. Journal and Ledger d. All of these 4. Which of the following accounts is most likely credited when a government entity remits its collections to the National Treasury? a. Cash-Tax Remittance Advice b. Cash-Modified Disbursement System (MDS), Regular c. Cash-Treasury/Agency Deposit, Regular d. Cash – Collecting Officers 5. This event is recorded in the books of accounts. a. Notice of Appropriation b. Notice of Allotment c. Notice of Cash Appropriation d. Closing entries 6. The receipt of allotment is recorded in the a. RAPAL b. RAOD c. ORS d. a and b

7. According to the GAM for NGAs, the Registries are (choose the incorrect statement) a. maintained by the accounting unit of a government entity b. maintained by fund cluster c. maintained for each object of expenditure, whenever the registry is used for monitoring obligations and disbursements d. maintained by the budget division of a government entity 8. The 8-digit Revised Chart of Accounts (RCA) Code for the account “Subsidy from National Government” starts with number a. 2 b. 3 c. 4 d. 6 9. Which of the following is not a form of disbursement authority? a. Allotment b. Notice of Cash Allocation c. Non-Cash Availment Authority d. Cash Disbursement Ceiling 10. The NCA is recorded in the a. Registry of Allotments and Notice of Cash Allocation (RANCA). b. Books of accounts (Journal and Ledger) c. Obligation Request and Status (ORS) d. a and b

“Call upon me in the day of trouble; I will deliver you, and you shall glorify me.” (Psalms 50:15)

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QUIZ 2: 1. The journal entry to record the billing of revenue (e.g., Communications Network Fees) is a. xxx Accounts receivable Communications Network Fees b. xxx Cash-Collecting Officers Communications Network Fees c. xxx Cash-Modified Disbursement System (MDS), Regular Communications Network Fees d. xxx Accounts receivable Subsidy from National Government 2. The journal entry to record the receipt of Notice of Cash Allocation is a. Cash-Modified Disbursement System (MDS), Regular Subsidy from National Government b. Cash-Collecting Officers Subsidy from National Government c. Cash-Tax Remittance Advice Due to the National Government d. No journal entry. 3. The journal entry to record the receipt of appropriation is a. Cash-Modified Disbursement System (MDS), Regular Subsidy from National Government b. Cash-Collecting Officers Subsidy from National Government c. Cash-Tax Remittance Advice Due to the National Government d. No journal entry. 4. The journal entry to record the receipt of allotment is a. Cash-Modified Disbursement System (MDS), Regular Subsidy from National Government b. Cash-Collecting Officers Subsidy from National Government c. Cash-Tax Remittance Advice Due to the National Government d. No journal entry. 5. The entry to record the reversion of unused NCA at the end of the year is a. Subsidy from National Government Cash-Modified Disbursement System (MDS), Regular b. Accumulated Surplus/(Deficit) Cash-Treasury/Agency Deposit,

xxx xxx xxx xxx

xxx xxx xxx xxx xxx xxx

xxx xxx xxx xxx xxx xxx

xxx xxx xxx xxx xxx xxx

xxx xxx xxx

c. d.

Regular Subsidy from National Government Cash-Collecting Officers No journal entry.

xxx xxx xxx

6. The entry to record the remittance of contributions to the GSIS, Pag-IBIG or PhilHealth is a. Due to GSIS/ Pag-IBIG/ PhilHealth xxx Cash-Tax Remittance Advice b. Due to GSIS/ Pag-IBIG/ PhilHealth xxx Cash-Collecting Officers c. Due to GSIS/ Pag-IBIG/ PhilHealth xxx Cash-Modified Disbursement System (MDS), Regular d. No journal entry. 7. The entry to record the liquidation of payroll fund is a. Salaries and Wages, Regular Personal Economic Relief Allowance (PERA) Due to BIR Due to GSIS Due to Pag-IBIG Due to PhilHealth Due to Officers and Employees b. Advances for Payroll Cash-Modified Disbursement System (MDS), Regular c. Due to Officers and Employees Advances for Payroll d. Cash-Collecting Officers Advances for Payroll

xxx xxx

xxx

xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx

8. The entries to record the constructive remittance of taxes withheld to the BIR and the constructive receipt of NCA for the TRA include a. Cash-Tax Remittance Advice xxx Due to BIR xxx b. Subsidy from National Government xxx Cash-Tax Remittance Advice xxx c. a and b d. None of these. 9.

The entry to close the “Cash-Treasury/Agency Deposit, Regular” account at the end of the period is xxx a. Accumulated Surplus/(Deficit) Cash-Treasury/Agency Deposit, Regular xxx xxx b. Subsidy from National Government Cash-Treasury/Agency Deposit, Regular xxx

c.

d.

Cash-Collecting Officers Cash-Treasury/Agency Deposit, Regular None of these. The account is not closed.

xxx xxx

10. The journal entry to record the collection of unbilled tax revenue (e.g., Travel Tax) through direct deposit in Authorized Agent Banks is a. xxx Accounts Receivable Travel Tax xxx b. Cash-Modified Disbursement System (MDS), Regular Travel Tax xxx xxx c. Cash-Collecting Officers xxx Travel Tax xxx d. Cash-Treasury/Agency Deposit, Regular xxx Travel Tax xxx

“A man who asks is a fool for five minutes. A man who never asks is a fool for life.” - Chinese Proverb

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