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ACCO 3116

I.

Quiz 3
Multiple Choice Questions. Select the best answer.

1.

Which of the following is not allowed by the Code of Ethics for Professional Accountants?
a. A professional accountant in public practice may issue to client or, response to an unsolicited request, to a non-client a
factual and objectively worded of the services provided.
b. A firm or CPA practitioner can continue to use the term accredited or any similar words or phrase calculated to
convey the same meaning if the claimed accreditation has not expired.
c. The use of the name of an international accounting firm affiliation/correspondence is generally allowed.
d. Booklets and other documents bearing the name of a professional accountant and giving technical information for the
assistance of staff or clients may be issued to such persons, other professional accountants or other interested parties.
e. None of the above

2.

The following is a qualification of an applicant for CPA licensure examination, except


a. Holder of BSA degree
b. At least 21 years of age
c. Of good moral character
d. Filipino citizen
e. None of the above

3.

Which of the following is not a qualification of a member of the BOA?


a. Must be of good moral character and must not have been convicted of crimes involving moral turpitude.
b. Duly registered CPA with at least 10 years of work experience in the practice of public accounting
c. Natural-born citizen and resident of the Philippines
d. Must not be a director of officer of the APO at the time of his appointment.
e. All of the above

4.

Philippine Accountancy Act of 2004 is what Republic Act?


a. Republic Act 9698
b. Republic Act 9892
c. Republic Act 9298
d. Republic Act 9296
e. None of the above

5.

The members of the BOA shall be appointed by


a. Philippine Institute of CPAs
b. Association of CPA in Public Practice
c. Professional Regulatory Board
d. President of the Philippines
e. None of the above

6.

Which of the following is not one of the specified objectives of the Accountancy Act of 2004?
a. Promulgation of accounting and auditing standards
b. Standardization and regularization of accounting education
c. Examination for registration of CPAs.
d. Supervision, control and regularization of accounting practice.
e. All of the above

7.

Which of the following is not a requisite in applying for the CPA licensure examinations?
a. Good moral character
b. BSA degree holder
c. Not been convicted of any criminal offense involving moral turpitude.
d. Filipino citizen
e. None of the above

8.

Advertising as defined in the Code of Ethics for Professional Accountants, means


a. The communication to the public of facts about a professional accountant which are not designated for the deliberate
promotion of that professional accountant.

b.
c.
d.
e.
9.

The approach to a potential client for purpose of offering professional services.


The communication to the public of information as to services or skills provided by professional accountants in public
practice view a procuring professional business.
Any of the given choices.
None of the above

Which of the following is allowed by the Code of Ethics for the Professional Accountants?
a. A professional accountant in public practice may issue client or, in response to an unsolicited request, to a non-client a
factual and objectively worded of the services provided.
b. Publicity on behalf of the client in which the emphasis on the publicity is directed towards the objective, to be achieve
for the client.
c. Booklets and other documents bearing the name of professional accountant and giving technical information for the
assistance of staff clients may be issued to such persons, other professional accountants or other interested parties.
d. The use of the name of an international accounting firm affiliation/correspondence is generally allowed.
e. All of the above.

10. In general sense, advertising and publicity in any medium are acceptable provided that
a. It has as its objective the notification to the public or such sectors of the public as are concern, of matter of fact in a
manner that is not false, misleading or deceptive.
b. It is in good taste
c. It is professionally dignified
d. It avoids frequent repetition of, and any undue prominence being given to the name of the firm or professional
accountant in public practice.
e. All of the above
11. The following shall not be allowed and prohibited advertising and publicity, except
a. Self-laundry statements.
b. Discrediting, disparaging or attacking other firms or CPA practitioners
c. Giving too much emphasis on competitive differences
d. Publishing services in billboard
e. All of the above
12. The following are objectives of CPE program, except
a. To raise and maintain the professionals capacity for delivering professional services.
b. To attain and maintain the highest standard and quality in the practice of his profession.
c. To comply with the requirements of the professional regulatory board.
d. To promote general welfare of the public.
e. All of the above
13. I. A foreign CPA who is an internationally recognized expert or with specialization in any branch of accountancy ad his
service is essential for the advancement of accountancy in the Philippines.
II. A foreign CPA engaged as professor, lecturer or critic in fields essential to accountancy education in the Philippines and
his engagement is confined to teaching only.
a. False, False
b. False, True
c. True, False
d. True, True
14. A candidate in CPA licensure examination, must have the grade of?
a. General average of seventy five percent (75%) in all the subject
b. General average of sixty five percent (65%) in all the subject
c. General average of seventy five percent (75%), with no grades lower than sixty five percent (65%) in all subjects.
d. General average of sixty five percent (65%), with no grades lower than seventy five percent (65%) in all subjects.
e. None of the above

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