FM-ELEC1_Q2

What is one of the key priorities of the Philippines' ongoing PFM reforms?

• Human Resource Management

• Environmental Conservation

• Liability Management

• Market Management

Which aspect of the PFM reforms focuses on improving financial reporting practices within the government?

• Human Resource Management

• Infrastructure Development

• Liability Management

• Accounting and Auditing Refors

Why is enhancing transparency and accountability in financial reporting important in the Philippines' PFM reforms?

• To reduce government spending     

• To build trust in financial management practices

• To increase borrowing costs

• To limit access to financial information

What is the purpose of modernizing Public Expenditure Management in PFM reform?

• Increasing corruption in public spending

• Decreasing transparency in financial reporting

• Enhancing efficiency in public spending        

• Ignoring value for money in procurement                                                                                   

How can leveraging Information and Communication Technology (ICT) benefit PFM reform?

• Decreasing service delivery efficiency

• Slowing down financial reporting

• . Limiting public access to fiscal information

• Improving service delivery and financial reporting

The phase of the budget process where the Agencies submit their proposed expenditure programs for confirmation by department/agency heads.

• Budget Preparation

• Budget Authorization

• Budget Execution

• Budget Accountability

One of the phases of the budget process where the Agencies account for their use of funds.

• Budget Preparation

• Budget Authorization

• Budget Execution

• Budget Accountability

Public expenditure includes spending on infrastructural facilities, basic health facilities, medical, and educational facilities, among others.

• True

• False

• Maybe

Managing debt prudently to avoid financial strain is not an aspect of expenditure management in PFM.

• True

• False

• Maybe

The four phases of the budget process are budget preparation, budget authorization, budget execution, and budget accountability

• True

• False

• Maybe