3D_PSA662_Government Structure and Legal Framework

_____________ provides the framework for which the __________ has the power to enact

• Federal Constitution, Audit Act 1957

• Federal Constitution, Financial Procedures Act 1957

• Financial Procedures Act 1957, Federal Constitution,

• Treasury Instructions, Federal Constitution,

The objective of _______ is to prescribe the standards and the basis for preparation of government financial statements in accordance with the requirements of Federal Constitution and Financial Procedures Act 1957

• Treasury Circular

• International Public Sector Accounting Standard

• Government Accounting Standard

• International Financial Reporting Standards

Grants can be classified into Statutory Grants and Non-Statutory Grants

• True

• False

Example of Non-Statutory Grants are all of the following EXCEPT

• Contributions in Aid of Rates Assistance

• Advance to State Government

• Loan to State Government

• Maintenance Assistance to Local Authorities

The following are three categories of Statutory Grant EXCEPT for

• Payable under Article 109 of the FC

• Approved by Ministry of Finance (MOF)

• Approved by National Finance Council (NFC)

• Payable under various act of parliament

Purpose of _________ is to assist States Government that had deficit in their account as well as to help implement the development throughout Malaysia

• Capitation Grant

• State Road Grant

• State Reserve Fund

• Revenue Growth Grant

Pensions, compensation for loss of office and gratuities, debt charges, money on judgement, decision or award against the Federation are example of

• Supply Expenditure

• Charge Expenditure

• Development Expenditure

No money should be withdrawn from Consolidated Fund except provided by the Financial Procedure Act 1957

• True

• False

Sec 13 of Financial Procedures Act explain that any money withdrawn from the consolidated fund must be by way of ________

• Supply Bill

• Warrant

• Grant

• Expenditure

Virements involves transfer of allocation between department from different ministry

• True

• False