12 Questions
What is the professional organization that accountants in the Philippines are members of?
Philippine Institute of Certified Public Accountants (PICPA)
What is the code of ethics that was adopted by the Philippine Institute of Certified Public Accountants (PICPA)?
Code of Professional Ethics for CRAs in the Philippines
What is the purpose of the Code of Professional Ethics for CRAs in the Philippines?
To establish a relationship among business, government, the investing public, and other users of financial information
What is the international body that represents all major accounting bodies across the world?
International Federation of Accountants (IFAC)
What is the effective date of the revised Code of Ethics for Professional Accountants developed by the International Federation of Accountants (IFAC)?
June 30, 2004
What is the term used to describe certified public accountants who manage their own businesses?
Entrepreneurs
What is the primary mission of the organization mentioned in the passage?
To implement international standards and guidance
What is implied by the concept of 'Integrity' in the context of professional accounting?
Fair dealing and truthfulness in all relationships
What is a professional accountant expected to do when they encounter reports with misleading information?
Not associate with such reports or communications
What is the essence of 'Objectivity' in professional accounting?
Avoiding bias and conflict of interest
What is a professional accountant's continuing duty in terms of professional competence?
To maintain professional knowledge and skills
Which of the following is NOT a principle mentioned in the passage?
Professional Conduct
Prepare for the Certified Public Accountant (CPA) exam with this quiz, covering accounting principles, business concepts, and professional practices. Test your knowledge and skills in areas like financial management, entrepreneurship, and professional certifications. Get ready to become a certified accounting professional!
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