Practice question
Which budget function does Section15(d) assign to the Monetary Board?
- Adopt an annual budget and authorize qualifying BSP expenditures under applicable laws and regulations
- Privately appropriate any depositor account without law
- Abolish every expenditure control by resolution
- Set the personal budget of every household
- Replace the national budget in all departments
Legal references
- RA7653 New Central Bank Act: https://lawphil.net/statutes/repacts/ra1993/ra_7653_1993.html Section15(d).
Answer this question in flashcards to review your response and continue practicing.