The 8-digit revised chart of accounts (rca) code for expenses starts with number
Von Andrei Medina 67% found this document useful (3 votes) 21K views 5 pages MODULE 4 PART 1 QUIZ © © All Rights Reserved Did you find this document useful?Is this content inappropriate?Report this Document 67% found this document useful (3 votes) 21K views5 pages Module 4 Part 1 QuizOriginal Title:MODULE 4 PART 1 QUIZ Uploaded byVon Andrei Medina Full description Jump to Page You are on page 1of 5 Search inside document You're Reading a Free Preview
Buy the Full Version Reward Your CuriosityEverything you want to read. Anytime. Anywhere. Any device. No Commitment. Cancel anytime. Recommended textbook solutionsAmerican Government1st EditionGlen Krutz 412 solutions Government in America: Elections and Updates Edition16th EditionGeorge C. Edwards III, Martin P. Wattenberg, Robert L. Lineberry 269 solutions
American Corrections11th EditionMichael D. Reisig, Todd R. Clear 160 solutions Criminal Justice in America9th EditionChristina Dejong, Christopher E. Smith, George F Cole 105 solutions TrueQ14. According to the RCA, the “Subsidy from National Government” account is a/anRevenue accountQ15. Expenditures to acquire long-term assets are classified asCapital outlaysQ16. Which of the following accounts is credited when the government entity remits contributions to the GSIS, PhilHealth, and PAG-IBIG?Cash - Modified Disbursement System (MDS), RegularQ17.In MNOP’s first quarter Statement of Appropriations, Allotments, Obligations, Disbursements and Balances, how much is shown as“unpaid obligations”?P2BQ18. “Advances for Payroll” is a/anAsset accountQ19. Which of the following is recorded in the ORS?Entering into employment contracts with employeesQ20. The account “Personal Economic Relief Allowance (PERA)” is a/anPersonnel services accountQ21. This event is recorded in the books of accounts.Closing entriesQ22. The “Subsidy from National Government” account is debited when recordingReversion of unused NCAQ23. The GAM for NGAs requires the Collecting Officer to issue an official receipt to acknowledge the receipt of the NCA. FalseQ24. The receipt of an appropriation is recorded by a government entity in theRAPALQ25. Which of the following is not a form of disbursement authority?AllotmentQ26.The P60B authorization is referred to asAllotmentQ27. Which of the following accounts is debited when the government entity remits its collections to the National Treasury?Cash - Treasury/Agency Deposit, RegularQ28. Which of the following is charged with the responsibility of keeping the general accounts and related documents of thegovernment?Commission on AuditQ29. Which of the following is credited when a government entity receives the NCA?Subsidy from National GovernmentQ30.In MNOP’s first quarter Statement of Appropriations, Allotments, Obligations, Disbursements and Balances, how much is shown as“unobligated allotments”?P5BQ31. Obligation recorded in the registries but not yet in the accounting books are referred to asNot yet due and demandableQ32. The entry to record the receipt of NCA by a government entity includes a debit toCash-Modified Disbursement System (MDS), RegularQ33. In MNOP’s first quarter Statement of Appropriations, Allotments, Obligations, Disbursements and Balances, how much is shown as“unreleased appropriations”?P180BQ34. At the end of each year, an adjustment is made to revert any unused NCA of a government entity.TrueQ35. Both the ORS and RAOD are updated each time an obligation is incurred, a payable is recorded for the obligation incurred, anddisbursements are made to settle the recorded payable.TrueQ36. The 8-digit Revised Chart of Accounts (RCA) Code for the account “Subsidy from National Government” starts with number4Q37. The receipt of NCA is recorded in theRANCAQ38. The 8-digit RCA code for expenses starts with number5Q39. Technically, only the Journals and ledgers are considered accounting records and the Registries are budget records. What are account numbers codes for in the chart of accounts?These account codes are used to record Operating expenses. This includes expenditures such as Contractual Services, Utilities, Materials and Supplies, Repairs and Maintenance, Travel, and Capital Asset purchases. General Ledger account codes 811100 to 899999.
What is the basis for coding the object classification in the COA revised chart of accounts?What is the standard used as a basis of coding in the COA Revised Chart of Accounts? The COA Revised Chart of Accounts is based on the PPSAS as adopted from the IPSAS.
What is account Code in accounting?Account code - This is usually a three digit code that describes the account itself, such as fixed assets, revenue, or supplies expense.
Which of the following is a sub Major account Group in the revised chart of accounts?2.3 Sub-major account group represents classification within the major account, e.g. for cash and cash equivalents: Cash on Hand, Cash in Bank-Local Currency, Cash in Bank-Foreign Currency, etc.
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