5. Which statement is INCORRECT inrelation to the practice of publicaccounting?*A. Single practitioners for the practice ofO public accounting shall be registered CPA inthe Philippines.B. Partners of partnership formed for theO practice of public accounting shall beregistered CPAS in the Philippines.C. The Securities and ExchangeCommission can register any corporationorganized for the practice of publicaccountingD. The Professional Regulation Commissionupon favorable recommendation of theBoard of Accountancy shall issueO certificate of accreditation to CPAS inpublic practice provided the registrant hasacquired a minimum of three years ofmeaningful experience in public practice.

Section 28. Limitation of the Practice of Public Accountancy. - Single practitioners and…

Answered: relation to the practice

Principles of Accounting Volume 1

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Chapter3: Analyzing And Recording Transactions

Section: Chapter Questions

Problem 5MC: The independent, nonprofit organization that sets financial accounting and reporting standards for...

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What choice(s) do private enterprises have in their financial reporting in Canada? a. They have no choice at all; they will need to report under IFRS b. They may elect to continue with differential reporting. c. They may adpot accounting priniciples that are appropriate to the circumstances. d. They may elect to report under either IFRS or ASPE but once adopted, must use all the standards.
The independent, nonprofit organization that sets financial accounting and reporting standards for both public- and private-sector businesses that use generally accepted accounting principles (GAAP) in the United States is which of the following? A. Financial Accounting Standards Board (FASB) B. generally accepted accounting principles (GAAP) C. Securities and Exchange Commission (SEC) D. conceptual framework
Which of the following is the federal, independent agency that provides oversight of public companies to maintain fair representation of company financial activities for investors to make informed decisions? A. IRS (Internal Revenue Service) B. SEC (Securities and Exchange Commission) C. FASB (Financial Accounting Standards Board) D. FDIC (Federal Deposit Insurance Corporation)
Financial Accounting and Reporting: Corporation Law From the given information indicate if this is a law under Corporation Code, Revised Corporation Code, Both, and Neither 1. Undertaking to change name must be submitted. a. Corporation Code of the Philippines b. Revised Corporation Code of the Philippines c. Applicable to Both d. Not Applicable to Either 2. Requires the presentation of the treasurer’s affidavit a. Corporation Code of the Philippines b. Revised Corporation Code of the Philippines c. Applicable to Both d. Not Applicable to Either 3. Professionals are allowed to form a corporation a. Corporation Code of the Philippines b. Revised Corporation Code of the Philippines c. Applicable to Both d. Not Applicable to Either
HELP ME ACCOUNTING CORPORATION TRUE OR FALSE. BASED ON PHILIPPINE LAW, RULES OR STANDARD. THANKS
19. Which of the following is not an example of financial statements that use a special purpose financial reporting framework? Group of answer choices Of a partnership which follows accounting practices used to file its tax return. Prepared for limited purposes such as relating to a contract a company has entered into. Of an organization that has limited the scope of the auditor's examination. Of an organization that follows procedures of a regulatory agency that oversees the company and its operations.
Which of the following is the federal, independent agency that provides oversight of public companies to maintain fair representation of company financial activities for investors to make informed decisions? Group of answer choices 1.IRS (Internal Revenue Service) 2.SEC (Securities and Exchange Commission) 3.FASB (Financial Accounting Standards Board) 4. FDIC (Federal Deposit Insurance Corporation)
Which of the following statements regarding the requirement to follow U.S. GAAP in financial reporting is true? 1.U.S. GAAP represents a set of professional standards, and the requirement to follow U.S. GAAP is enforced through the AICPA Code of Professional Conduct. 2.U.S. GAAP has been adopted as state law in all 50 states, so failure to follow U.S. GAAP is prosecuted through the state court system. 3.U.S. GAAP has been adopted as federal law, so failure to follow U.S. GAAP is prosecuted through the federal court system. 4.Compliance with U.S. GAAP is not enforced; it is a voluntary choice made by most companies and by most professional accountants
B62. The following statements relate to the Board of Accountancy. Select the incorrect statement: A. The Board consists of a Chairman and six members.B. The chairman and members of the Board are appointed by the President of the Philippines upon recommendation of the Professional Regulation Commission.C. The Professional Regulation Commission may remove from the Board ofAccountancy, any member whose certificate to practice has been revoked or suspended.D. All sectors of accountancy practice shall as much as possible be equitably represented in the Board.
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H4. in accordance with the current code f corporate governance for public listed companies in Singapore, the independenc ef any director who has served as an independent director for more than ___ years should be subjected to particulary rigorous review to ensure he continues to serve the objective of an independent director a. 4 b. 6 c. 8 d. 10 e. none of the above
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