BADVAC3X MIDTERMS EXAM (SET A) QUESTIONS WITH COMPLETE SOLUTIONS

BADVAC3X MIDTERMS EXAM (SET A) QUESTIONS WITH COMPLETE
SOLUTIONS

1. Special agency undertakings which are to be carried out within a definite time frame, and which are intended to result som
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e pre-determined measure of goods and services.
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a. Major Final Output s s




b. Programs
c. Projects
d. Activities

2. A specific authority issued to identified agencies to incur obligations not exceeding a given amount during a specified perio
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d for the purpose indicated. It shall cover expenditures the release of which is subject to compliance with specific laws or re
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gulations or is subject to separate approval or clearance by competent authority.
s s s s s s s s s s s




a. General Allotment Release Order s s s




b. Special Allotment Release Order s s s




c. Agency Budget Matrix s s




d. Notice of Cash Allocation s s s




3. Authority granted by DBM to government agency to account for the cash equivalent of loan proceeds availed of through su
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pplier’s credit/constructive cash.
s s




a. Notice of Cash Allocation s s s




b. Cash Disbursement Ceiling s s




c. Non-Cash Availment Authority s s




d. Modified Disbursement Scheme Checks s s s




4. Financial institutions authorized, upon accreditation by the Monetary Board, to accept government deposits and perform
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banking services on behalf of government agencies. Presently, only three government financial institutions have been de
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signated to be servicing banks of MDS, EXCEPT
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a. Land Bank of the Philippines s s s s




b. Development Bank of the Philippines s s s s




c. Philippine National Bank s s




d. Philippine Veterans Bank s s




5. An account used to record collections, income, or receipts of agencies held in trust or guarantee for another agency a
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nd for a specific purpose.
s s s s




a. Trust liabilities s




b. Trust fund s




c. Special fund s




d. Working fund s




6. Statement I: The objective of financial reporting by public sector entities is to provide information about the entity that is
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useful to users of financial statements for accountability purposes and for decision making purposes Statement II: Priv
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ate sector annual reports are primarily produced for the shareholders, the owners of the company.
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a. Only statement I is correct s s s s




b. Only statement II is correct s s s s




c. Both statements are correct s s s




d. Both statements are incorrect s s s




7. This oversees consolidating all the budgetary requirements of national government agencies and its instrume
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ntalities.
a. Department of Budget and Management s s s s




b. Senate
c. House of Representatives s s

, d. Development Budget Coordinating Council
s s s