Question 1

1. What is the appropriate basis in the preparation of Summary of Budget, Commitment, Payments and Balances (SBCPB)?

Accepted Answer

Registries of Budget, Commitments, Payments and Balances (RBCPB)

Answer

Registries of Specific Purpose Fund Commitments, Payments and Balances (RSPFCPB)

Answer

Register of Cash Receipts and Deposits and Other Related Financial Transactions (RCRD)

Answer

Registries of Specific Purpose Fund Commitments, Payments and Balances (RSPFCPB)

Question 2

2. SSPFCPB stands for Summary of Specific __________ Fund, Commitments, Payments and Balances

Accepted Answer

Purpose

Answer

Project

Answer

Plan

Answer

Program

Question 3

3. SBCPB and SSPFCPB shall be prepared in 2 copies. The original copy shall be submitted to the Municipal Accountant while the photocopies shall be submitted to SB and retained by the SK.

Accepted Answer

FALSE

Answer

TRUE

Question 4

4. SCBAA stands for Statement of Comparison of Budget and Allotment Amounts.

Accepted Answer

FALSE

Answer

TRUE

Question 5

5. What is the most appropriate basis in preparing the Annual Statement of Receipt and Payments?

Accepted Answer

The consolidated Quarterly Statement of Receipts and Payments (QSRP)

Answer

The consolidated Register of Cash Receipts, deposits and Other Related Financial Transactions (RCRD)

Answer

The Summary of Budget, Commitments, Payments and Balances (SBCPB)

Answer

The consolidated Register of Cash in Bank and other Related Financial Transactions (RCB)

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