Which statement is incorrect regarding the term of office of the chairman and the members of the Board of Accountancy (BOA)? a. The Chairman and members of the Board shall hold office for a term of three years. b. A person may serve the BOA for not more than twelve years. c. A member of the BOA may continuously serve office for more than nine years. d. No person who has served two (2) successive complete terms shall be eligible for reappointment until the lapse of one (1) year

Which statement is incorrect regarding the
term of office of the chairman and the
members of the Board of Accountancy
(BOA)?
a. The Chairman and members of the Board
shall hold office for a term of three years.
b. A person may serve the BOA for not more
than twelve years.
c. A member of the BOA may
continuously serve office for more
than nine years.
d. No person who has served two (2)
successive complete terms shall be
eligible for reappointment until the lapse
of one (1) year
by

1 Answer

Answer :

A member of the BOA may
continuously serve office for more
than nine years.
by

Related questions

Members of the Professional Regulatory Board of Accountancy shall serve for: a. Three years, subject to renewal. b. Seven years, not subject to renewal. c. Three years, subject to reappointmentd. Three years, not subject to reappointment.

Description : Members of the Professional Regulatory Board of Accountancy shall serve for: a. Three years, subject to renewal. b. Seven years, not subject to renewal. c. Three years, subject to reappointment. d. Three years, not subject to reappointment

Last Answer : Three years, subject to reappointment

Mark the correct option a) Every member of district forum shall hold office a term of 5 years or up to age 65 years b) The member of district forum shall eligible for reappointment for another term c) Members of district forum may resign his office in writing addressed to state government d) All the above

Description : Mark the correct option  a) Every member of district forum shall hold office a term of 5 years or up to age  65 years b) The member of district forum shall eligible for reappointment for ... of district forum may resign his office in writing addressed to state  government d) All the above

Last Answer : c) Up to twenty lac

The Chairman and the members of the BOA shall be appointed by the: a. Commissioner of the SEC. b. President of the PICPA. c. President of the Republic of the Philippines. d. Retiring chairman of the Board of Accountancy.

Description : The Chairman and the members of the BOA shall be appointed by the: a. Commissioner of the SEC. b. President of the PICPA. c. President of the Republic of the Philippines. d. Retiring chairman of the Board of Accountancy.

Last Answer : President of the Republic of the Philippines.

The following statements relate to the Board of Accountancy. Which statement is correct? a. The Board consists of a Chairman and six members. b. The chairman and members are appointed by the President of the Philippines upon recommendation of PICPA. c. Majority of the board members shall as much as possible be in public practice. d. The Professional Regulation Commission may remove from the Board any member whose certificate to practice has been removed or suspended

Description : The following statements relate to the Board of Accountancy. Which statement is correct? a. The Board consists of a Chairman and six members. b. The chairman and members are appointed by ... Commission may remove from the Board any member whose certificate to practice has been removed or suspended

Last Answer : The Board consists of a Chairman and six members.

The following statements relate to the RA 9298. Which statement is true? a. The Professional Regulation Commission has the authority to remove any member of the Board of Accountancy for negligence, incompetence, or any other just cause. b. No person shall be appointed as a member of the Board of Accountancy unless he has been in the practice of accountancy for at least 10 years, among others. c. Insanity is not a ground for proceeding against a CPA. d. After three years, subject to certain conditions, the Board of Accountancy may order the reinstatement of a CPA whose certificate of registration has been revoked.

Description : The following statements relate to the RA 9298. Which statement is true? a. The Professional Regulation Commission has the authority to remove any member of the Board of Accountancy for ... of Accountancy may order the reinstatement of a CPA whose certificate of registration has been revoked.

Last Answer : No person shall be appointed as a member of the Board of Accountancy unless he has been in the practice of accountancy for at least 10 years, among others

Mark the correct option a) The CIC/IC shall hold office for a term 5 years b) CIC shall not be eligible to reappointment. c) No CIC shall hold office as such after he has attained the age of 65 years d) Every IC shall not be eligible to reappointment as IC but shall be eligible to reappoint as CIC the term of office shall not be more than 5 years in aggregate as IC and CIC e) All the above

Description : Mark the correct option a) The CIC/IC shall hold office for a term 5 years b) CIC shall not be eligible to reappointment. c) No CIC shall hold office as such after he has attained the age of 65 ... the term of office shall not be more than 5 years in aggregate as  IC and CIC e) All the above

Last Answer : e) All the above

A member of the BOA shall, at the time of his/her appointment, possess the following qualifications, excepta. Must be a natural-born citizen andresident of the Philippines.b. Must not be a director or officer of theAPO at the time of his/her appointment.c. Must be of good moral character andmust not have been convicted of crimesinvolving moral turpitude.d. Must be a duly registered CPA withmore than ten (10) years of workexperience in any scope of practiceof accountancy.

Description : A member of the BOA shall, at the time of his/her appointment, possess the following qualifications, except a. Must be a natural-born citizen and resident of the Philippines. b. Must not be a ... registered CPA with more than ten (10) years of work experience in any scope of practice of accountancy.

Last Answer : Must be a duly registered CPA with more than ten (10) years of work experience in any scope of practice of accountancy.

The term of BOA vice-chairman is a. One year. b. Three years subject to renewal. c. At the discretion of BOA members. d. Same with the term of BOA chairman

Description : The term of BOA vice-chairman is a. One year. b. Three years subject to renewal. c. At the discretion of BOA members. d. Same with the term of BOA chairman

Last Answer : One year

The BOA vice-chairman shall be a. Appointed by the PRC b. Elected by BOA members c. Appointed by the President of the Philippines d. Appointed by the PRC upon recommendation by the PICPA

Description : The BOA vice-chairman shall be a. Appointed by the PRC b. Elected by BOA members c. Appointed by the President of the Philippines d. Appointed by the PRC upon recommendation by the PICPA

Last Answer : Elected by BOA members

The Professional Regulatory Board of Accountancy consists of: a. 1 Chairman and 4 members. b. 1 Chairman and 5 members. c. 1 Chairman and 6 members. d. 1 Chairman and 7 members

Description : The Professional Regulatory Board of Accountancy consists of: a. 1 Chairman and 4 members. b. 1 Chairman and 5 members. c. 1 Chairman and 6 members. d. 1 Chairman and 7 members

Last Answer : 1 Chairman and 6 members

The APO shall submit its nominations with complete documentation to the Commission not later than ______ prior to the expiry of the term of an incumbent chairman or member. a. 30 days b. 60 days c. 90 days d. 120 days

Description : The APO shall submit its nominations with complete documentation to the Commission not later than ______ prior to the expiry of the term of an incumbent chairman or member. a. 30 days b. 60 days c. 90 days d. 120 days

Last Answer : 60 days

The chairman and the members of the AASC and FRSC shall have a term of a. 1 year. b. 3 years. c. 3 years with no renewal. d. 3 years renewable for another term

Description : The chairman and the members of the AASC and FRSC shall have a term of a. 1 year. b. 3 years. c. 3 years with no renewal. d. 3 years renewable for another term

Last Answer : 3 years renewable for another term

Which of the following is expected of AASC to do? a. AASC should normally expose its opinion on specific queries from a practicing CPA. b. AASC should normally expose a proposed interpretation of statements. c. To make the statements on Philippine Standards on Auditing operative, the final statement shall be submitted to the Board of Accountancy for approval. d. When it is deemed necessary to expose a statement for a comment on proposed interpretations of statements, the exposure period is understandably shorter than those of the regular drafts of standards

Description : Which of the following is expected of AASC to do? a. AASC should normally expose its opinion on specific queries from a practicing CPA. b. AASC should normally expose a proposed ... of statements, the exposure period is understandably shorter than those of the regular drafts of standards

Last Answer : To make the statements on Philippine Standards on Auditing operative, the final statement shall be submitted to the Board of Accountancy for approval.

Which of the following is incorrect regarding professional competence? a. Professional accountants may portray themselves as having expertise or experience they do not possess. b. Professional competence may be divided into two separate phases. c. The attainment of professional competence requires initially a high standard of general education. d. The maintenance of professional competence requires a continuing awareness of development in the accountancy profession

Description : Which of the following is incorrect regarding professional competence? a. Professional accountants may portray themselves as having expertise or experience they do not possess. b. ... maintenance of professional competence requires a continuing awareness of development in the accountancy profession

Last Answer : Professional accountants may portray themselves as having expertise or experience they do not possess

Existing accountant, as defined in the Code of Ethics, means a. A professional accountant employed in industry, commerce, the public sector or education. b. Those persons who hold a valid certificate issued by the Board of Accountancy. c. A professional accountant in public practice currently holding an audit appointment or carrying out accounting, taxation, consulting or similar professional services for a client. d. A sole proprietor, or each partner or person occupying a position similar to that of a partner and each staff in a practice providing professional services

Description : Existing accountant, as defined in the Code of Ethics, means a. A professional accountant employed in industry, commerce, the public sector or education. b. Those persons who hold a valid ... a position similar to that of a partner and each staff in a practice providing professional services

Last Answer : A professional accountant in public practice currently holding an audit appointment or carrying out accounting, taxation, consulting or similar professional services for a client.

Individual CPAs, Firms or Partnerships of CPAs, including partners and staff members thereof shall register with the BOA and the PRC. If the accreditation of Velasco and Co., CPAs, was renewed on September 30, 2008, the next renewal must be on or before: a. September 30, 2010 b. September 30, 2011 c. December 31, 2010 d. December 31, 2011

Description : Individual CPAs, Firms or Partnerships of CPAs, including partners and staff members thereof shall register with the BOA and the PRC. If the accreditation of Velasco and Co., CPAs, was renewed on September 30, ... . September 30, 2010 b. September 30, 2011 c. December 31, 2010 d. December 31, 2011

Last Answer : September 30, 2011

Which of the following mostly describes the function of AASC? a. To monitor full compliance by auditors to PSAs. b. To assist the Board of Accountancy in conducting administrative proceedings on erring CPAs in audit practice. c. To promulgate auditing standards, practices and procedures that shall be generally accepted by the accounting profession in the Philippines. d. To undertake continuing research on both auditing and financial accounting in order to make them responsive to the needs of the public

Description : Which of the following mostly describes the function of AASC? a. To monitor full compliance by auditors to PSAs. b. To assist the Board of Accountancy in conducting administrative proceedings on ... both auditing and financial accounting in order to make them responsive to the needs of the public

Last Answer : To promulgate auditing standards, practices and procedures that shall be generally accepted by the accounting profession in the Philippines.

A CPA in public practice shall not disclose any confidential client information without the specific consent of the client. The confidentiality rule is violated if CPA disclosed information without client's consent as a result of a a. Subpoena or summons. b. Peer review. c. Request by client's largest stockholder. d. Complaint filed with the trial board of the Board of Accountancy

Description : A CPA in public practice shall not disclose any confidential client information without the specific consent of the client. The confidentiality rule is violated if CPA disclosed information without client' ... s largest stockholder. d. Complaint filed with the trial board of the Board of Accountancy

Last Answer : Request by client's largest stockholder.

.Its function is to conduct a quality review on applicants for registration to practice public accountancy and render a report which shall be attached to the application for registration. a. Quality Review Board b. Quality Review Group c. Board of Quality Reviewers d. Quality Review Committee

Description : .Its function is to conduct a quality review on applicants for registration to practice public accountancy and render a report which shall be attached to the application for registration. a. Quality Review Board b. Quality Review Group c. Board of Quality Reviewers d. Quality Review Committee

Last Answer : Quality Review Committee

This refers to those persons who hold a valid certificate issued by the Board of Accountancy. a. Senior accounting practitioner. b. Professional accountant. c. Professional accountant in public practice. d. Audit associate.

Description : This refers to those persons who hold a valid certificate issued by the Board of Accountancy. a. Senior accounting practitioner. b. Professional accountant. c. Professional accountant in public practice. d. Audit associate.

Last Answer : Professional accountant.

Mark the correct option relating to district forum a) It should have two member , one of whom shall be a woman b) Members age shall not be less than 35 years old c) Possess a bachelors of degree from recognized university d) Ten year knowledge and experience in dealing with problems relating to economics, law, commerce, accountancy, industry& public affairs e) All the above

Description : Mark the correct option relating to district forum a) It should have two member , one of whom shall be a woman b) Members age shall not be less than 35 years old c) Possess a ... dealing with problems relating to  economics, law, commerce, accountancy, industry& public affairs e) All the above

Last Answer : e) All the above

Which of the following is required to be performed in an audit but not in review engagement? a. Complying with the "Code of Professional Ethics for Certified Public Accountants" promulgated by the Board of Accountancy b. Planning the engagement c. Agreeing on the terms of engagement d. Studying and evaluating internal control structure

Description : Which of the following is required to be performed in an audit but not in review engagement? a. Complying with the "Code of Professional Ethics for Certified Public Accountants" promulgated ... engagement c. Agreeing on the terms of engagement d. Studying and evaluating internal control structure

Last Answer : Studying and evaluating internal control structure

Which on of the following statements regarding the Departmental Committee of the Parliament of Q.In)ia on the empowerment of women is correct? (1) The Committee will consist of members of the Lok Sabha only (2) A Cabinet Minister can be a member of the Committees (3) The term of office of the members of the Committee shall not exceed two years (4) It reports on the working of welfare programmes for the women

Description : Which on of the following statements regarding the Departmental Committee of the Parliament of Q.In)ia on the empowerment of women is correct? (1) The Committee will consist of members of the Lok Sabha ... shall not exceed two years (4) It reports on the working of welfare programmes for the women

Last Answer : (4) It reports on the working of welfare programmes for the women Explanation: The Committee on Empowerment of Women was constituted on 29th April 1997. The Committee consists of 30 Members of whom ... functions of the committee is to report on the working of the welfare programmes for the women.

The following statements relate to CPE credit units. Which is incorrect? a. One credit hour of CPE program, activity or source shall be equivalent to one (1) credit unit. b. Any excess credit units in one year may be carried over to the succeeding years within the three-year period. c. The total CPE credit units for registered accounting professionals shall be sixty (60) credit units for three (3) years, provided that a minimum of fifteen (15) credit units shall be earned in each year. d. Excess credit units earned may be carried over to the next three-year period including credit units earned for doctoral and master's degrees.

Description : The following statements relate to CPE credit units. Which is incorrect? a. One credit hour of CPE program, activity or source shall be equivalent to one (1) credit unit. b. Any excess ... carried over to the next three-year period including credit units earned for doctoral and master's degrees.

Last Answer : Excess credit units earned may be carried over to the next three-year period including credit units earned for doctoral and master's degrees.

The death, or disability of an individual CPA and/or the dissolution and liquidation of a firm or partnership of CPAs shall be reported to the BOA not later than ___ days from the date of such death, dissolution or liquidation. a. 15 b. 30 c. 60 d. 90

Description : The death, or disability of an individual CPA and/or the dissolution and liquidation of a firm or partnership of CPAs shall be reported to the BOA not later than ___ days from the date of such death, dissolution or liquidation. a. 15 b. 30 c. 60 d. 90

Last Answer : 30

Which of the following is incorrect regarding integrity and objectivity? a. Integrity implies not merely honesty but fair dealing and truthfulness. b. The principle of objectivity imposes the obligation on all professional accountants to be fair, intellectually honest and free of conflicts of interest. c. Professional accountants serve in many different capacities and should demonstrate their objectivity in varying circumstances.d. Professional accountants should neither accept nor offer any gifts or entertainment.

Description : Which of the following is incorrect regarding integrity and objectivity? a. Integrity implies not merely honesty but fair dealing and truthfulness. b. The principle of objectivity imposes the ... circumstances. d. Professional accountants should neither accept nor offer any gifts or entertainment.

Last Answer : Professional accountants should neither accept nor offer any gifts or entertainment.

The BOA shall submit to the PRC the ratings obtained by each candidate within how many calendar days after the examination? a. 5 days b. 10 days c. 15 days d. 30 days

Description : The BOA shall submit to the PRC the ratings obtained by each candidate within how many calendar days after the examination? a. 5 days b. 10 days c. 15 days d. 30 days

Last Answer : 10 days

Which of the following is not a ground for suspension or removal of members of BOA? a. Negligence in the performance of duties, or lack of professional competence. b. Intolerance of violations of the Philippine Accountancy Act. c. Final judgment of crimes involving moral turpitude. d. Rigging of the CPA licensure examination results.

Description : Which of the following is not a ground for suspension or removal of members of BOA? a. Negligence in the performance of duties, or lack of professional competence. b. Intolerance of ... . Final judgment of crimes involving moral turpitude. d. Rigging of the CPA licensure examination results.

Last Answer : Intolerance of violations of the Philippine Accountancy Act.

The comptroller and Auditor General of India - (1) Can be appointed as a member of UPSC after his retirement (2) Can be appointed as the Chairman of State Public Service commission (3) Is not eligible for any further office either under the Central government or the state government after his retirement (4) Can be appointed to any office after his retirement

Description : The comptroller and Auditor General of India - (1) Can be appointed as a member of UPSC after his retirement (2) Can be appointed as the Chairman of State Public Service commission (3) Is ... or the state government after his retirement (4) Can be appointed to any office after his retirement

Last Answer : (3) Is not eligible for any further office either under the Central government or the state government after his retirement Explanation: The Comptroller and Auditor General of India is not ... the central government or state government after his retirement current CAG of India - Rajiv Mehrishi.

The QRC shall have the following functions: a. Conduct quality control review on applicants for registration to practice public accountancy and render a report on such quality review. b. Mete out sentences of imprisonment to CPAs who fail to present a valid system of quality control. c. Revoke the certificate of registration and professional ID of an individual CPA, firm, or partnership of CPAs who have not observed quality control measures and who has not complied with the standards of quality prescribed for the practice of public accountancy. d. All of these

Description : The QRC shall have the following functions: a. Conduct quality control review on applicants for registration to practice public accountancy and render a report on such quality review. b. Mete out ... with the standards of quality prescribed for the practice of public accountancy. d. All of these

Last Answer : Conduct quality control review on applicants for registration to practice public accountancy and render a report on such quality review.

The Philippine Accountancy Act of 2004 provides that all Working papers made during an audit shall be the property of the auditor. These working papers shall include the following, except: a. Working papers prepared by the CPA and his staff. b. Analysis and schedule prepared and submitted to the auditor by his client's staff. c. Excerpts or copies of documents furnished to the auditor. d. Any report submitted by the auditor to his client.

Description : The Philippine Accountancy Act of 2004 provides that all Working papers made during an audit shall be the property of the auditor. These working papers shall include the following, except: a. Working ... of documents furnished to the auditor. d. Any report submitted by the auditor to his client.

Last Answer : Any report submitted by the auditor to his client.

The CPA shall not concurrently engage in any business or occupation which impairs his objectivity in rendering professional services or which is inconsistent with his practice or employment. This provision of the code of ethics is applicable to: a. Only to CPAs engaged in public accountancy. b. CPAs engaged in public accountancy or employed in a private enterprise. c. CPAs engaged in public accountancy or employed in a private enterprise or government agency. d. All CPAs engaged in public accountancy, or employed in a private enterprise, a government agency or an educational institution

Description : The CPA shall not concurrently engage in any business or occupation which impairs his objectivity in rendering professional services or which is inconsistent with his practice or employment. This ... accountancy, or employed in a private enterprise, a government agency or an educational institution

Last Answer : All CPAs engaged in public accountancy, or employed in a private enterprise, a government agency or an educational institution

Which of the following is one of the functions of Quality Review Committee: a. To promulgate accounting and auditing standards that will be generally accepted in the Philippines. b. To conduct a review on applicants for registration to practice public accountancy and render a report which shall be attached to the application for registration. c. To adopt a Code of Ethics for the practice of accountancy. d. To evaluate periodically the performance of educational institutions offering accountancy education.

Description : Which of the following is one of the functions of Quality Review Committee: a. To promulgate accounting and auditing standards that will be generally accepted in the Philippines. ... accountancy. d. To evaluate periodically the performance of educational institutions offering accountancy education.

Last Answer : To conduct a review on applicants for registration to practice public accountancy and render a report which shall be attached to the application for registration.

Which of the following is a correct qualification of the Chairman and Two Commissioners of the Commission on Audit? a. A citizen of the Philippinesb. At least 40 years of age uponappointment.c. Must not have been candidates forany elective position precedingappointment.d. CPA’s with no less than 5 years ofauditing experience or members ofPhilippine bar who have been engaged inlaw practice for at least 5 years

Description : Which of the following is a correct qualification of the Chairman and Two Commissioners of the Commission on Audit? a. A citizen of the Philippines b. At least 40 years of age upon appointment. c ... experience or members of Philippine bar who have been engaged in law practice for at least 5 years

Last Answer : Must not have been candidates for any elective position preceding appointment.

Every member of National commission shall hold office for a term of ___ year or up to the age of ___ years, whichever is less. a) 5 ,65 b) 6,67 c) 5,67 d) 5,70

Description : Every member of National commission shall hold office for a term of ___ year or up  to the age of ___ years, whichever is less. a) 5 ,65 b) 6,67 c) 5,67 d) 5,70

Last Answer : d) 5,70

Every member of state commission shall hold office for a term of ___ year or up to the age of ___ years, whichever is less. a) 5 ,65 b) 6,67 c) 5,67 d) 5,70

Description : Every member of state commission shall hold office for a term of ___ year or up to  the age of ___ years, whichever is less. a) 5 ,65 b) 6,67 c) 5,67 d) 5,70

Last Answer : c) 5,67

Which of the following has the primary responsibility for the fairness of the representations made in the financial statements? a. Audit committee b. Client's management c. Independent auditor d. Board of Accountancy

Description : Which of the following has the primary responsibility for the fairness of the representations made in the financial statements? a. Audit committee b. Client's management c. Independent auditor d. Board of Accountancy

Last Answer : Client's management

All of the following are represented to the Financial Reporting Standards Council, except: a. Securities and Exchange Commission b. Bureau of Internal Revenue c. Commission on Higher Education d. Board of Accountancy

Description : All of the following are represented to the Financial Reporting Standards Council, except: a. Securities and Exchange Commission b. Bureau of Internal Revenue c. Commission on Higher Education d. Board of Accountancy

Last Answer : Commission on Higher Education

Which of the following is not a function of the Board of Accountancy as specified in the Philippine Accountancy Act of 2004? a. To investigate violations of the Accountancy Law and the rules and regulations promulgated therewith. b. To look from time to time into the conditions affecting the practice of the accountancy profession. c. To create and direct accrediting agencies that are entrusted the functions of reviewing higher educational institutions' policies and practices leading to accreditation/reaccreditation of BSA program. d. To determine and prescribe minimum requirements leading to the admission of candidates to the CPA licensure examination

Description : Which of the following is not a function of the Board of Accountancy as specified in the Philippine Accountancy Act of 2004? a. To investigate violations of the Accountancy Law ... determine and prescribe minimum requirements leading to the admission of candidates to the CPA licensure examination

Last Answer : To create and direct accrediting agencies that are entrusted the functions of reviewing higher educational institutions' policies and practices leading to accreditation/reaccreditation of BSA program.

The following are represented both to the Financial Reporting Standards Council (FRSC) and Auditing and Assurance Standards Council (AASC), except: a. Bangko Sentral ng Pilipinas b. Securities and Exchange Commission c. Bureau of Internal Revenue d. Board of Accountancy

Description : The following are represented both to the Financial Reporting Standards Council (FRSC) and Auditing and Assurance Standards Council (AASC), except: a. Bangko Sentral ng Pilipinas b. Securities and Exchange Commission c. Bureau of Internal Revenue d. Board of Accountancy

Last Answer : Bureau of Internal Revenue

Which of the following is not mentioned as a power of the Board? a. To monitor the conditions affecting the practice of accountancy. b. To supervise the registration, licensure and practice of accountancy. c. To sentence to imprisonment CPAs who have been found guilty of violations of the Accountancy Act. d. To issue, suspend, revoke, or reinstate the Certificate of Registration for the practice of the accountancy profession

Description : Which of the following is not mentioned as a power of the Board? a. To monitor the conditions affecting the practice of accountancy. b. To supervise the registration, licensure and ... , suspend, revoke, or reinstate the Certificate of Registration for the practice of the accountancy profession

Last Answer : To sentence to imprisonment CPAs who have been found guilty of violations of the Accountancy Act

A draft of statement, studies or standards should be discussed by the Council en banc. How many members of the AASC are required to approve the draft for exposure? a. Eight b. Ten c. Twelve d. Majority

Description : A draft of statement, studies or standards should be discussed by the Council en banc. How many members of the AASC are required to approve the draft for exposure? a. Eight b. Ten c. Twelve d. Majority

Last Answer : Majority

Which statement is incorrect regarding the pronouncements of AASC? a. The PSAs and Interpretations may also have application, as appropriate, to other related activities of auditorsb. PSAs contain basic principles andessential procedures (identified in boldtype black lettering) together withrelated guidance in the form ofexplanatory and other material.c. PSAs need only be applied to materialmatters.d. The Interpretations have the sameauthority as the PAPSs

Description : Which statement is incorrect regarding the pronouncements of AASC? a. The PSAs and Interpretations may also have application, as appropriate, to other related activities of auditors b. PSAs contain basic ... be applied to material matters. d. The Interpretations have the same authority as the PAPSs

Last Answer : The Interpretations have the same authority as the PAPSs

Regarding practice of accountancy, which of the following certificates is issued to a CPA first, a certificate of registration or a certificate of accreditation? a. Certificate of registration b. Certificate of accreditation c. Both are issued at the same timed. Neither are issued to CPAs

Description : Regarding practice of accountancy, which of the following certificates is issued to a CPA first, a certificate of registration or a certificate of accreditation? a. Certificate of registration b. Certificate of accreditation c. Both are issued at the same time d. Neither are issued to CPAs

Last Answer : Certificate of registration

A candidate who fails in two (2) complete CPA examinations shall be: a. Reverted to undergraduate status. b. Forever banned from taking another set of c. Considered as having passed the examination, under the rule of efforts and professional mercy. d. Required to take a refresher course before making another attempt at the CPA Board exams.

Description : A candidate who fails in two (2) complete CPA examinations shall be: a. Reverted to undergraduate status. b. Forever banned from taking another set of examinations c. Considered as having passed the ... . d. Required to take a refresher course before making another attempt at the CPA Board exams.

Last Answer : Required to take a refresher course before making another attempt at the CPA Board exams.