CPA PROGRAM AUSTRALIA FINANCIAL REPORTING DIGITAL FINANCE EXAMINATION
ACTUAL TEST PAPER QUESTIONS CORRECT ANSWERS GRADED A PLUS
Question:
What act does the CHED Memorandum Order No. 27 reference?
Answer:
Republic Act No. 7722, known as the 'Higher Education Act of 1994.'
Question:
What educational approach does the PSG implement?
Answer:
A shift to learning competency-based standards/outcomes-based education.
Question:
What is required of private higher education institutions (PHEIs) intending to offer BS
Accountancy?
Answer:
They must secure proper authority from the Commission.
Question:
What must existing BS Accountancy programs in PHEIs do according to the PSG?
Answer:
They are required to shift to an outcomes-based approach.
Question:
,What academic freedom do higher education institutions have according to RA No. 7722?
Answer:
They can exercise academic freedom in curricular offerings but must comply with minimum
requirements.
Question:
What does Article IV Section 6 outline?
Answer:
The minimum set of desired program outcomes for the BS Accountancy program.
Question:
What is the degree name for the program described in the PSG?
Answer:
Bachelor of Science in Accountancy (BSA).
Question:
What type of education does the BSA program provide?
Answer:
General accounting education for students pursuing a professional career in Accountancy.
Question:
What framework does the BSA program comply with?
Answer:
The latest competency framework for professional accountants issued by the International
Federation of Accountants (IFAC).
Question:
,What are some of the roles of accountants as described in the PSG?
Answer:
Providing assurance and audit services, tax-related services, and management advisory services.
Question:
What is a key expectation of accountants regarding their professional development?
Answer:
They must pursue lifelong learning and continuous professional development.
Question:
What ethical considerations must accountants adhere to?
Answer:
They must be objective, ethical, and consider the public interest.
Question:
What is the primary goal of accounting education according to the PSG?
Answer:
To produce competent and ethical professional accountants capable of making positive
contributions.
Question:
What should the BSA program provide to its students?
Answer:
A foundation of professional knowledge, skills, values, ethics, and attitudes.
Question:
What is the significance of financial data analysis in Accountancy?
, Answer:
It supports stakeholders in making strategic and operating decisions.
Question:
What is the role of the CHED Implementation Handbook for Outcomes-Based Education?
Answer:
It serves as a guide for HEIs in making submissions for compliance with the PSG.
Question:
What does the PSG allow HEIs to do regarding their curricula?
Answer:
HEIs can design curricula suited to their contexts and missions as long as they meet required
outcomes.
Question:
What is the importance of ethical values in Accountancy?
Answer:
They ensure that accountants apply knowledge ethically to achieve appropriate solutions.
Question:
What is the expected outcome for graduates of the BSA program within 3 to 5 years?
Answer:
To demonstrate competence and ethical behavior in their professional roles.
Question:
What are the minimum requirements for specific academic programs as per the PSG?
Answer:
ACTUAL TEST PAPER QUESTIONS CORRECT ANSWERS GRADED A PLUS
Question:
What act does the CHED Memorandum Order No. 27 reference?
Answer:
Republic Act No. 7722, known as the 'Higher Education Act of 1994.'
Question:
What educational approach does the PSG implement?
Answer:
A shift to learning competency-based standards/outcomes-based education.
Question:
What is required of private higher education institutions (PHEIs) intending to offer BS
Accountancy?
Answer:
They must secure proper authority from the Commission.
Question:
What must existing BS Accountancy programs in PHEIs do according to the PSG?
Answer:
They are required to shift to an outcomes-based approach.
Question:
,What academic freedom do higher education institutions have according to RA No. 7722?
Answer:
They can exercise academic freedom in curricular offerings but must comply with minimum
requirements.
Question:
What does Article IV Section 6 outline?
Answer:
The minimum set of desired program outcomes for the BS Accountancy program.
Question:
What is the degree name for the program described in the PSG?
Answer:
Bachelor of Science in Accountancy (BSA).
Question:
What type of education does the BSA program provide?
Answer:
General accounting education for students pursuing a professional career in Accountancy.
Question:
What framework does the BSA program comply with?
Answer:
The latest competency framework for professional accountants issued by the International
Federation of Accountants (IFAC).
Question:
,What are some of the roles of accountants as described in the PSG?
Answer:
Providing assurance and audit services, tax-related services, and management advisory services.
Question:
What is a key expectation of accountants regarding their professional development?
Answer:
They must pursue lifelong learning and continuous professional development.
Question:
What ethical considerations must accountants adhere to?
Answer:
They must be objective, ethical, and consider the public interest.
Question:
What is the primary goal of accounting education according to the PSG?
Answer:
To produce competent and ethical professional accountants capable of making positive
contributions.
Question:
What should the BSA program provide to its students?
Answer:
A foundation of professional knowledge, skills, values, ethics, and attitudes.
Question:
What is the significance of financial data analysis in Accountancy?
, Answer:
It supports stakeholders in making strategic and operating decisions.
Question:
What is the role of the CHED Implementation Handbook for Outcomes-Based Education?
Answer:
It serves as a guide for HEIs in making submissions for compliance with the PSG.
Question:
What does the PSG allow HEIs to do regarding their curricula?
Answer:
HEIs can design curricula suited to their contexts and missions as long as they meet required
outcomes.
Question:
What is the importance of ethical values in Accountancy?
Answer:
They ensure that accountants apply knowledge ethically to achieve appropriate solutions.
Question:
What is the expected outcome for graduates of the BSA program within 3 to 5 years?
Answer:
To demonstrate competence and ethical behavior in their professional roles.
Question:
What are the minimum requirements for specific academic programs as per the PSG?
Answer:
