19.
Which of the following is not a Controller’s function?
a. In charge of planning and control
b. Protection of assets such as adequate insurance coverage. Etc.
c. Interpreting and reporting on effects of external factors on the business
d. Arranging short-term financing
19-D
20.
Controllers are generally not concerned with
a. Reporting to government c. Protection of assets
b. Preparation of tax returns d. Investor relations
20-D
21.
Which of the following is a Controller’s responsibility?
a. Tax planning and accounting
c. In charge of credit and collection
b. Custodian of funds
d. Arranging short-term financing
21-A
22.
Which of the following is not a controllership function, as distinguished from
a treasury function?
a. Reporting and interpreting c. Protection of assets
b. Credit and collection
d. Government reporting
22-B
23.
The primary purpose of management advisory services is
a. To conduct special studies, preparation of recommendation, development plans and
programs, and provision of advise and assistance in their implementation.
b. To provide service or to fulfill some social need.
c. To improve the client’s use of its capabilities & resources to achieve the
objectives of the organization.
d. To earn the best rate of return on resources entrusted to its care with safety of
investment being taken into account and consistent with the firm’s social and legal
responsibilities.
23-C
24.
Which of the following statements is not true?
a. In the rendition of MAS, independence must be observed so as to maintain the
essential requisites of impartiality and objectivity.
b. All provisions of the code of professional ethics are applicable to the practice
of MAS except those rules related to the expression of an opinion on financial
statements.
c. MAS serves only in the areas of accounting and finance.
d. Before accepting an engagement, a practitioner should notify the client of any
reservations he has regarding anticipated benefits.
24-C
25.
Which of the following acts is not performed by an independent CPA engaged to
install an accounting system?
a. Formulation of the chart of accounts
b. Design of business and accounting forms
c. Supervision of application of system and procedures recommended
d. Preparation of an accounting manual.
4