47. The entry in the books of a government agency with foreign service post to record the receipt of disbursement authority called the Cash Disbursement Ceiling (CDC) includes Debit to Cash-Modified Disbursement System (MDS) Credit to Subsidy from National Government Credit to Cash-Constructive Income Remittance Debit to Subsidy from National Government

47. The entry in the books of a government agency with foreign service post to record the receipt of disbursement authority called the Cash Disbursement Ceiling (CDC) includes Debit to Cash-Modified Disbursement System (MDS) Credit to Subsidy from National Government Credit to Cash-Constructive Income Remittance Debit to Subsidy from National Government

Auditing: A Risk Based-Approach (MindTap Course List)

11th Edition

ISBN:9781337619455

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter10: Auditing Cash, Marketable Securities, And Complex Financial Instruments

Section: Chapter Questions

Problem 12RQSC

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Similar questions

25. The entry to record the receipt of Notice of Cash allocation (NCA) by a government entity is: Debit Cash-Modified Disbursement System (MDS), Regular; Credit Accumulated Surplus (Deficit) Debit Cash-Modified Disbursement System (MDS), Regular; Credit Subsidy from National Government Debit Cash Collecting Officer; Credit Subsidy from National Government No Entry
28. A government entity pays an accounts payable. The entry to record the payment will most likely include a Debit to “Cash-Modified Disbursement System (MDS), Regular Account. Credit to “Due to BIR” account Credit to the “Cash-Treasury/Agency Deposit, Regular’ account None of these. The event is recorded only in the registries and the obligation request and status.
1. What check was written, forwarded to the payee but not yet presented to the bank for payment? Choices: NSF check Stale check Local check Outstanding check 2. Who is the primary recipient of government spending and funding of programs and projects in the country? Choices: Private Companies Government Officials Government Employees General Public
1. This account is used to record in the Regular Agency (RA) books the receipt of Notice of Cash Allocation for operational requirements from the Department of Budget and Management and the corresponding withdrawal of national government agencies. a. Cash MDS, Special Account b Cash MDS, Regular C. Cash in Bank - Local Currency, Savings Account d. Cash in Bank - Local Currency, Current Account 2. Statement. I: All checks issued including cancelled checks shall be recorded chronologically in the Check Disbursements Record. Statement II: All checks issued shall be included in the Report of Checks Issued. a. Statement I and II are true. b. Statement I is false; statement II is true. C. Statement I is true; statement II is false. d. Statement I and II are false. 3. All disbursements shall be supported by a Disbursement voucher. b. Disbursement voucher and its supporting documents. C. Disbursement voucher duly certified and approved and its supporting documents. d. Checks. 4. It is…
56. Which of the following may be paid through the petty cash fund of a government entity? Rent worth P120,000 Pantry Supplies worth P15,000 Office supplies worth P20,000 None of these
50. Which of the following government agencies will most likely be able to obatian a disbursement authority in the form of Cash Disbursement Ceiling (CDC) BIR DPWH DFA NFA
1) Use the stated collection policy of an entity to determine the expected monthly collections for trade receivables 2) Given the collection policy of suppliers, compute the expected cash disbursements for accounts payable 3) Given an expected set of transactions for an entity, develop a monthly cash budget (with a total column) for the entity, clearly showing the cash receipts and cash payments and the minimum cash balance before financing. 4) Use the collection/payment policy to determine the balances to be reflected in the balance sheet as expected trade receivables and payables at a given date. 5) State and explain internal measures that can be implemented to increase cash balance Please assist with question (a) showing workings as well
1) Use the stated collection policy of an entity to determine the expected monthly collections for trade receivables 2) Given the collection policy of suppliers, compute the expected cash disbursements for accounts payable 3) Given an expected set of transactions for an entity, develop a monthly cash budget (with a total column) for the entity, clearly showing the cash receipts and cash payments and the minimum cash balance before financing. 4) Use the collection/payment policy to determine the balances to be reflected in the balance sheet as expected trade receivables and payables at a given date. 5) State and explain internal measures that can be implemented to increase cash balance Please assist with question (b) showing workings as well
Which of the following is not a function of a Central Bank? Question 19Answer a. To regulate the issue, supply and availability of money. b. To manage the foreign exchange reserves. c. To advise government on monetary and fiscal matters. d. To manage the public and private debt in the country.
Explain the procedures of accounting for the cash by Central Governments in theCaribbean using the cash basis of accounts as guided by the IPSASs and the PrivateSector companies in the Caribbean using the accrual basis of accounts as guided by theIFRSs and the IASs.
Which group in the federal goverment is responsible for counting M1 and M2 money amounts? A. Internal Revenue Service B. Department of the Treasury C. Federal Reserve D. US Mint Which problem associated with barter transactions is reduced when people conduct these transactions with money? A. Deflation B. Local sales taxes C. Inflation D. Transaction costs
49. All of the following are considered valid cashless disbursement except Purchase of goods using an electronic card issued by Citibank Payment of payables using a non-Cash Availment Authority Remittance of taxes withheld to the BIR through Tax Remittance Advice Online payment through LBP’s eMDS Payment to a supplier through LBC Padala