Issuance Vested in "Higher Court.'' - The Issuance of The Writ Is Expressly Vested by Article

unlawful detainer case. (Pharma Industries, Inc. vs. Pajarilla, 100 SCRA 339 [1980].
Possession of land by tolerance becomes an unlawful de-tainer, from the time a demand to vacate is
Arts. 1675-1676
Issuance vested in “higher court.’’ — The issuance of the writ is expressly vested by Article
1674 in the “higher court’’ or appel-late court. Thus, the Regional Trial Court in ejectment
cases, be-ing an appellate court, may grant the writ in market place, the intention to contract
is presumed.
Family Agreements
Shareholders
Shareholder liability
Lifting the Exemptions
Fair dealing – a defence to copy right infringement that permits the copying of works for
particular purpose.
Confidential Business Information

Difficulty: Hard
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67. Which of the following internal control activities most likely would deter lapping of collections from
customers?
A. Independent internal verification of dates of entry in the cash receipts journal with dates of daily cash
summaries.
B. Authorization of write-offs of uncollectible accounts by a supervisor independent of credit irregularity,
identify one or more types of controls that were absent.
b. For each or irregularity, identify the internal control objectives that have not been met.
c. For each error or irregularity, suggest a control procedure to correct the deficiency.
1. Which of the following is a difference between attestation and auditing standards?
A. Attestation standards cover attest engagements
2. Which of the following statements about conceptual framework of the code of ethics is
incorrect?
A. A conceptual framework that requires a professional accountant to identify, evaluate and address
threats to compliance with the fundamental principles, rather than merely with a set of specific rules
which may be arbitrary is in the public interest.
B. As a concern to public interests, the professional accountant should comply with a set of specific
rules rather than arbitrarily identify, evaluate and address threats to compliance with fundamental
principles.
C. If identifies threats are other than clearly insignificant, a professional accountant should
appropriately apply safeguards to eliminate the threats or reduce them to an acceptable level.
D. The Code provides a framework to assist a professional accountant to identify, evaluate and respond
to threats to compliance with the fundamental principles.
3. Which of the following is true of the conceptual framework approach?
A. It is impossible to define every situation that creates specific threats and and specify the appropriate
mitigating action.
B. A professional accountant should take qualitative but not quantitative factors into account
when considering the significance of a threat.
C. A professional accountant should take quantitative but not qualitative factors into account
when considering the significance of a threat.
D. All inadvertent violations of the code of Ethics, irrespective of their nature and
significance, always compromise compliance with the fundamental principles
4. Which of the following appropriately describes an advocacy threat?
A. The professional accountant may be deterred from acting objectivity by threats, actual or perceived.
B. Because of a close relationship, a professional accountant becomes too sympathetic to the interest of
others.
C. The professional accountant should provides a position or opinion to the point that subsequent
objectivity may be compromised.
D. The professional accountant needs to be reevaluate his previous judgment.
5. A threat that prevents the professional accountant from acting objectively by threats, actual or
perceived.
A. Self-interest
B. Familiarity
C. Intimidation
D. Advocacy
6. A form of threat which may occur when a previous judgment needs to be reevaluated by the
professional accountant who is responsible for that judgment.
A. Self-interest threat
B. Self-review threat
C. Familiarity threat
D. Advocacy threat
7. Advocacy threat may occur:
A. As a result of the financial or other interests of a professional accountant or an immediate

or close family member.
B. When, because of a close relationship, a professional accountant becomes too sympathetic
to the interests of others.
C. When a professional accountant promotes a position or opinion to the point that subsequent
objectivity may be compromised.
D. When a professional accountant may be deterred from acting objectively by threats, actual or
perceived.
8. It occurs when a firm or member of the assurance team could benefit from a financial interest
in, or other self-interest conflict with, an assurance client.
A. Self-interest threat
B. Self-review threat
C. Advocacy threat
D. Familiarity threat
9. A financial interest beneficially owned through a collective investment vehicle, estate, trust or
other intermediary over which the individual or entity has no control.
A. Indirect financial interest

B. Financial instrument
C. Direct financial interest
D. Clients‘ monies
10. Financial interest means:
A. Any bank account which is sued solely for the banking of clients‘ monies.
B. Any monies received by a professional accountant in public practice to be held or paid out on the
instruction of the person from whom or on whose behalf they are received.
C. A financial interest beneficially owned through a collective investment vehicle, estate, trust or
other intermediary over which the individual or entity has no control.
D. An equity interest or other security, debenture, loan or other debt instrument of an entity, including
rights and obligations to acquire such an interest and derivatives directly related to such interest.
Marlene S. Datuin Applied Auditing
11. Direct financial interest is a financial interest:
A. 26. A customer reply on a positive confirmation says "We dispute the $250 charge. We believe it
is excessive." This confirmation
A. Provides evidence of existence.
B. Does not provide evidence of existence because the customer may refuse to pay the $250
charge.
Risk management plan would include:
Inventory
C. Retained Earnings
D. All of the above usually are adjusted
D. All of the above usually are adjusted
1. JFS Co. changed from straight-line to DDB depreciation. The journal
entry to record the change includes:
A. A credit to accumulated depreciation.
B. A debit to accumulated depreciation.
In which of the following circumstances may disclosure of confidential information be
appropriate?
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unlawful detainer case. (Pharma Industries, Inc. vs. Pajarilla, 100 SCRA 339 [1980].

Lifting the Exemptions

Confidential Business Information

1. Which of the following is a difference between attestation and auditing standards?

A. Attestation standards cover attest engagements

3. Which of the following is true of the conceptual framework approach?

4. Which of the following appropriately describes an advocacy threat?

7. Advocacy threat may occur:

A. As a result of the financial or other interests of a professional accountant or an immediate

A. Indirect financial interest

10. Financial interest means:

11. Direct financial interest is a financial interest:

Risk management plan would include:

D. All of the above usually are adjusted

1. JFS Co. changed from straight-line to DDB depreciation. The journal

entry to record the change includes:

A. A credit to accumulated depreciation.

B. A debit to accumulated depreciation.

In which of the following circumstances may disclosure of confidential information be

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