5 Questions
True or false: Accounting was not used in ancient China's public finance system.
False
True or false: The Grand Treasury was not involved in imperial financial operations in ancient China.
False
True or false: The Philippine government recognized the accounting profession in 1823.
False
True or false: To become a CPA board examinee in the Philippines, one must have a criminal record involving moral turpitude.
False
True or false: The demand for accountants in the Philippines is decreasing.
False
Study Notes
- Accounting was used in ancient China's public finance system to assess government initiatives and staff productivity.
- The Grand Treasury served as the hub of imperial financial operations.
- A complex network of funds was created, including a general revenue fund and specific revenue funds.
- The Office of the Comptroller General audited government agencies and produced an annual report.
- Government accounting aided the transition from absolute power to a representative form of government.
- Parliament used government accounting to limit the king's ability to spend public money.
- The Philippine government fully recognized the accounting profession in 1923.
- The Board of Accountancy was established and given the power to grant certificates.
- The current requirements to become a CPA board examinee include being a Filipino citizen, having a Bachelor of Science in Accounting, and having no criminal record involving moral turpitude.
- The demand for accountants in the Philippines is rising, and the legislation acknowledges their significance in the country's development.
Test your knowledge on the history and current state of government accounting in the Philippines with this informative quiz! From ancient China's public finance system to the establishment of the Board of Accountancy, this quiz covers the key milestones and developments in the profession. Brush up on your understanding of complex networks of funds, the role of the Office of the Comptroller General, and the significance of government accounting in the transition from absolute power to representative government. Don't miss out on the opportunity to learn more about the
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
