BADVAC3X MIDTERMS EXAM (SET A) QUESTIONS WITH COMPLETE SOLUTIONS
1. Specialagencyundertakingswhichare tobe carriedout withina definitetime frame,and whichareintendedtoresult som e pr
cn cn cn s cn s cn s cn s cn s cn cn cn cn s cn s
e-determined measure ofgoods andservices. s s cn s cn
a. MajorFinalOutput
b. Programs
c. Projects
d. Activities
2. A specific authority issuedto identified agencies to incur obligationsnot exceeding a given amount duringa specified perio dfor
s s cn cn cn s cn s cn s s cn cn c n c
the purpose indicated. Itshall cover expenditures the release of which is subject to compliance with specific laws or re gulation
n cn cn cn s cn cn cn s cn cn cn s s cn s s cn cn
soris subject toseparateapprovalorclearancebycompetent authority.
cn cn s s cn cn cn cn cn s
a. GeneralAllotment ReleaseOrder s
b. Special Allotment Release Order s s s
c. AgencyBudgetMatrix
d. Notice ofCashAllocation s
3. AuthoritygrantedbyDBM to government agencyto account forthe cash equivalentofloanproceeds availedofthroughsu ppl
cn cn s s cn s s cn s cn cn cn s cn cn cn
ier’s credit/constructivecash.
s cn
a. Notice ofCashAllocation s
b. CashDisbursement Ceiling s
c. Non-Cash Availment Authority s s
d. ModifiedDisbursementSchemeChecks s
4. Financial institutions authorized, upon accreditation bythe Monetary Board, toaccept government deposits and perform b s s s cn s cn cn s s s cn cn
anking services on behalf of government agencies. Presently, onlythree government financial institutions have been de sign
cn cn s cn cn s cn cn cn s cn cn cn cn cn
atedtobeservicingbanks ofMDS, EXCEPT
cn cn cn s cn s
a. LandBank ofthePhilippines s
b. Development Bank ofthe Philippines s s s
c. Philippine NationalBank s
d. PhilippineVeterans Bank s
5. An account used to record collections, income, or receipts ofagencies held in trust or guarantee for anotheragencya
cn sc n cn sc n cn sc n cn cn sc n cn sc n cn sc n sc n cn sc n cn cn cn cn
ndfora specificpurpose.
cn cn s cn
a. Trust liabilities s
b. Trustfund
c. Specialfund
d. Working fund s
6. Statement I: The objective offinancialreportingbypublic sectorentitiesis toprovideinformationabouttheentitythat is us
s cn s cn cn cn s cn cn s cn cn cn s cn
efultousers offinancialstatements foraccountabilitypurposes andfordecisionmakingpurposesStatement II:Priv atese
cn s cn cn s cn cn s cn cn cn cn s cn cn cn
ctorannualreports are primarilyproducedforthe shareholders,theownersofthecompany.
cn cn s s cn cn s cn cn cn cn
a. OnlystatementI is correct s s
b. OnlystatementIIis correct s
c. Both statements are correct s s s
d. Bothstatements are incorrect s s
7. This oversees consolidating all the budgetary requirements of national government agencies and its inst
sc n c n c n c n sc n c n c n c n c n sc n sc n c n cn
rume ntalities. cn
a. Department of Budget and Management s s s s
b. Senate
c. HouseofRepresentatives
, d. Development BudgetCoordinatingCouncil
s
1. Specialagencyundertakingswhichare tobe carriedout withina definitetime frame,and whichareintendedtoresult som e pr
cn cn cn s cn s cn s cn s cn s cn cn cn cn s cn s
e-determined measure ofgoods andservices. s s cn s cn
a. MajorFinalOutput
b. Programs
c. Projects
d. Activities
2. A specific authority issuedto identified agencies to incur obligationsnot exceeding a given amount duringa specified perio dfor
s s cn cn cn s cn s cn s s cn cn c n c
the purpose indicated. Itshall cover expenditures the release of which is subject to compliance with specific laws or re gulation
n cn cn cn s cn cn cn s cn cn cn s s cn s s cn cn
soris subject toseparateapprovalorclearancebycompetent authority.
cn cn s s cn cn cn cn cn s
a. GeneralAllotment ReleaseOrder s
b. Special Allotment Release Order s s s
c. AgencyBudgetMatrix
d. Notice ofCashAllocation s
3. AuthoritygrantedbyDBM to government agencyto account forthe cash equivalentofloanproceeds availedofthroughsu ppl
cn cn s s cn s s cn s cn cn cn s cn cn cn
ier’s credit/constructivecash.
s cn
a. Notice ofCashAllocation s
b. CashDisbursement Ceiling s
c. Non-Cash Availment Authority s s
d. ModifiedDisbursementSchemeChecks s
4. Financial institutions authorized, upon accreditation bythe Monetary Board, toaccept government deposits and perform b s s s cn s cn cn s s s cn cn
anking services on behalf of government agencies. Presently, onlythree government financial institutions have been de sign
cn cn s cn cn s cn cn cn s cn cn cn cn cn
atedtobeservicingbanks ofMDS, EXCEPT
cn cn cn s cn s
a. LandBank ofthePhilippines s
b. Development Bank ofthe Philippines s s s
c. Philippine NationalBank s
d. PhilippineVeterans Bank s
5. An account used to record collections, income, or receipts ofagencies held in trust or guarantee for anotheragencya
cn sc n cn sc n cn sc n cn cn sc n cn sc n cn sc n sc n cn sc n cn cn cn cn
ndfora specificpurpose.
cn cn s cn
a. Trust liabilities s
b. Trustfund
c. Specialfund
d. Working fund s
6. Statement I: The objective offinancialreportingbypublic sectorentitiesis toprovideinformationabouttheentitythat is us
s cn s cn cn cn s cn cn s cn cn cn s cn
efultousers offinancialstatements foraccountabilitypurposes andfordecisionmakingpurposesStatement II:Priv atese
cn s cn cn s cn cn s cn cn cn cn s cn cn cn
ctorannualreports are primarilyproducedforthe shareholders,theownersofthecompany.
cn cn s s cn cn s cn cn cn cn
a. OnlystatementI is correct s s
b. OnlystatementIIis correct s
c. Both statements are correct s s s
d. Bothstatements are incorrect s s
7. This oversees consolidating all the budgetary requirements of national government agencies and its inst
sc n c n c n c n sc n c n c n c n c n sc n sc n c n cn
rume ntalities. cn
a. Department of Budget and Management s s s s
b. Senate
c. HouseofRepresentatives
, d. Development BudgetCoordinatingCouncil
s
