Colegio De Dagupan College of Business and Accountancy Government Accounting Semi-fina Examination First Semester SY 2013-2014 Name______________________________ BSA

4 Score____________

Test I. Identification. 1. The entry to record the receipts of NCA by the agency; ____________________________________________________________ ____________________________________________________________

2.

______________________ is an authorization by the DBM to the head of an agency to incur obligations within a specified amount pursuant to an appropriation.

3.

_______________________are issued by an agency chargeable against the accounts of the National treasury which are maintained with different government servicing banks.

4.

______________________is a system of prescribing the procedures for recording Authorization, Allotment and Obligation.

______________________________ 5. What re the basis of preparing of JEV for final recording in the CDJ?

Test II. Multiple Choice.

1. During current year, a nonprofit organization received the following donor-restricted contributions and invested income 1, Cash contribution to be permanently invested 2. Cash dividend and interest to be used for the acquisitions of theater equipment

The statement of cash flows for the current year shall report what cash flows under financing activities? a. 1 only b. 2 only c. Both 1 and 2 d. Neither 1 nor 3 e. 2. A nonprofit hospital should prepare which of the following financial statements? 1. statement of changes in net assets 2. statement of operations a. 1 only b. 2 only c. Both 1 and 2 d. Neither 1 nor 2 e. 3. For a private sector health care organization, which of the following is included in patient service revenue? a. contractual adjustment b. charity care c. significant contribution d. unrestricted contribution 4. How is charity care accounted for in the financial statements of a nonprofit private health care organization? a. as patient revenue b. as bad debt expense c. as a separate component of revenue d. not included in the financial statements 5. An arrangement where donor makes an initial gift to a trust or directly to the notfor-profit organization, in which npo has a beneficial interest but is not the sole beneficiary is known as a. b. c. d. 6. donor-imposed condition donor-imposed restriction share-the wealth agreement split interest agreement What is the accounting system under the new government accounting system a. Modified cash basis b. cash basis c. modified accrual basis d. accrual basis What is the legal basis of the COA in prescribing the New Government Accounting System?

7.

a. b. c. d. 8.

Presidential decree Legislative act Constitution of the Republic of the Philippines Recommendation of the International Monetary fund

The NGAS cannot be applied to which of the following? a. City of Manila b. Department of Tourism c. Department of Finance d. Barangay of Dito sa Pitong Gatang It is the formal document issued by DBM to the head of the agency containing the authorization, condition and amount of allocation a. allotment release order b. allotment and obligation slip c. notice of cash allocation d. registry of allotment and obligation It is a statement of estimated receipts and estimated expenses of the government which serves as basis for a general appropriation bill a. national government budget b. local government budget c.statement of operations This term represent the allotment by Central Office to its Regional Office a.Special allotment b .Regular allotment c. Suballotment d. Allotment advice

9.

10.

11.

12. Allotments are recorded in the registries a. at the beginning of the year b. at the end of the year c. semiannually d. quarterly 13. This is the notice of the allotment transferred by Regional Office to its operating unit a. letter of advice of allotment b.suballotment c. special allotment d. regular allotment 14. These accounts are closed to the government equity account at the end of the period a. statement of financial position b. intermediate accounts c. guarantee deposits

d. allowance for doubtful accounts 15. Congressional authorization in the form of law to make payment out of the public treasury for specific purposes after compliance with certain conditions is known as a. appropriation b. allotment c. budgeting d. obligation 16. It is continuing appropriation for an indefinite period in excess of one fiscal year a. annual appropriation b. continuing appropriation c. multi-year appropriation d. no-year appropriation 17. It is the amount committed to be paid by the government arising from an act of a duly authorized administrative officer and which binds the government to the immediate and eventual payments of money a. obligation b. appropriation c. allotment d. commitment 18. This financial statement is prepared from information taken directly fro the year end post closing trial balance a. statement of financial position b. statement of income and expenses c. statement of cash flows d. statement of government equity

19..

This statement is prepared from information taken directly from post closing trial balance a. statement of financial position b. statement of income and expenses c. statement of cash flows d. statement of government equity

20. This a serve as the covering letter in transmitting the agencys financial statements to the COA, DBM and other oversight agency a. Post closing trial balance b. Post closing trial balance c. Statement of management responsibility d. Note to financial statement