RA 9298 Test Questions with Correct Answers Latest Version 2025-2026
BOA has the power to conduct oversight into the quality of audits of financial statements through a
review of the quality control measures instituted by auditors in order to ensure compliance with the
accounting and auditing standards and practices. This power of BOA is called *
A. Quality control
B. Appraisal
C. Quality assurance review
D. Peer review - Answers C. Quality assurance review
BOA shall submit to PRC the ratings obtained by each candidate within _____ days after the examination
unless extended for just cause. *
A. 10
B. 15
C. 20
D. 5 - Answers A. 10
Which of the following shall be issued to examinees who pass the CPALE? *
A. Certificate of registration and death certificate
B. Professional identification card and accreditation certificate
C. Certificate of registration and professional identification card
D. Accreditation certificate - Answers C. Certificate of registration and professional identification card
Which of the following statements concerning ownership of working papers is incorrect? *
A. All working papers made by a CPA and his/her staff in the course of examination remain the property
of such CPA in the absence of a written agreement between the CPA and the client of the company.
B. Working papers include schedules and memoranda prepared and submitted by the client of the CPA.
,C. Working papers include reports submitted by a CPA to his/her client.
D. Working papers shall be treated confidential and privileged unless such documents are required to be
produced through a subpoena issued by any court, tribunal, or government regulatory or administrative
body. - Answers C. Working papers include reports submitted by a CPA to his/her client.
Any person who shall violate any provisions of RA 9298 or any of its implementing rules and regulations
promulgated by BOA subject to the approval of PRC, shall upon conviction, be punished by *
A. Lethal injection
B.A fine of not less than P50,000 or by imprisonment for a period not exceeding 2 years or both
C.Imprisonment for a period not exceeding 2 years
D.A fine of not more than P50,000 - Answers B.A fine of not less than P50,000 or by imprisonment for a
period not exceeding 2 years or both
All registered CPAs shall obtain and use a seal which shall be circular in form with a smaller circle bearing
the registrant's name, registration number and title. Which of the following is correct? *
A. Engraved in the middle of the smaller circle are the letters "CPA"
B. Engraved in the lower portion of the space between the circles is the CPA's name.
C. Engraved in the middle of the smaller circle are the "CPA's name and registration number'
D. Engraved in the middle of the smaller circle is the "CPA's name". - Answers A. Engraved in the middle
of the smaller circle are the letters "CPA"
A partner surviving the death or withdrawal of the other partners in partnership may continue to
practice under the partnership name for a period of not more than ____ years after becoming a sole
proprietor. *
A. 1 year
B. 2 years
C. 3 years
D. 4 years - Answers B. 2 years
, The death or disability of an individual CPA and/or the dissolution and liquidation of a firm or
partnership of CPAs shall be reported to BOA not later than _____days from the date of such death,
dissolution or liquidations. *
A. 15
B. 30
C. 6
D. 90 - Answers B. 30
Which of the following statements concerning a CPA's disclosure of confidential client information is
ordinarily correct? *
A. Disclosure may be made to any party on consent of the client
B. Disclosure should not be made even if such disclosure will protect the CPA's professional interests in
legal proceedings
C. Disclosure should be made only if there is a legal or professional duty to make the disclosure
D. Disclosure may be made to any government agency without subpoena. - Answers A. Disclosure may
be made to any party on consent of the client
Listed below are names of 4 CPA firms and pertinent facts relative to each firm. Unless otherwise
indicated, the individuals named are CPAs and partners, and there are not other partners. Which is a
violation of the IRR of RA 9298? *
A. Sweet, Love and Darling, CPAs (Sweet died about 5 years ago, Love and Darling are continuing the
firm)
B. Pilar and Pepe, CPAs (The name of Kiko, a 3rd partner, is omitted from the partnership name)
C. King and Kong, CPAs (King died about 3 years ago, Kong is continuing the firm as a sole proprietor)
D. Brandy and Company, CPAs (The firm has 10 other partners who are all CPAs) - Answers C. King and
Kong, CPAs (King died about 3 years ago, Kong is continuing the firm as a sole proprietor)
A registered CPA who I working or practicing his profession or furthering abroad shall be temporarily
exempted from compliance with CPE requirements during the period of his stay abroad, provided that
prior to the date or renewal he has been out of the country for at least *
BOA has the power to conduct oversight into the quality of audits of financial statements through a
review of the quality control measures instituted by auditors in order to ensure compliance with the
accounting and auditing standards and practices. This power of BOA is called *
A. Quality control
B. Appraisal
C. Quality assurance review
D. Peer review - Answers C. Quality assurance review
BOA shall submit to PRC the ratings obtained by each candidate within _____ days after the examination
unless extended for just cause. *
A. 10
B. 15
C. 20
D. 5 - Answers A. 10
Which of the following shall be issued to examinees who pass the CPALE? *
A. Certificate of registration and death certificate
B. Professional identification card and accreditation certificate
C. Certificate of registration and professional identification card
D. Accreditation certificate - Answers C. Certificate of registration and professional identification card
Which of the following statements concerning ownership of working papers is incorrect? *
A. All working papers made by a CPA and his/her staff in the course of examination remain the property
of such CPA in the absence of a written agreement between the CPA and the client of the company.
B. Working papers include schedules and memoranda prepared and submitted by the client of the CPA.
,C. Working papers include reports submitted by a CPA to his/her client.
D. Working papers shall be treated confidential and privileged unless such documents are required to be
produced through a subpoena issued by any court, tribunal, or government regulatory or administrative
body. - Answers C. Working papers include reports submitted by a CPA to his/her client.
Any person who shall violate any provisions of RA 9298 or any of its implementing rules and regulations
promulgated by BOA subject to the approval of PRC, shall upon conviction, be punished by *
A. Lethal injection
B.A fine of not less than P50,000 or by imprisonment for a period not exceeding 2 years or both
C.Imprisonment for a period not exceeding 2 years
D.A fine of not more than P50,000 - Answers B.A fine of not less than P50,000 or by imprisonment for a
period not exceeding 2 years or both
All registered CPAs shall obtain and use a seal which shall be circular in form with a smaller circle bearing
the registrant's name, registration number and title. Which of the following is correct? *
A. Engraved in the middle of the smaller circle are the letters "CPA"
B. Engraved in the lower portion of the space between the circles is the CPA's name.
C. Engraved in the middle of the smaller circle are the "CPA's name and registration number'
D. Engraved in the middle of the smaller circle is the "CPA's name". - Answers A. Engraved in the middle
of the smaller circle are the letters "CPA"
A partner surviving the death or withdrawal of the other partners in partnership may continue to
practice under the partnership name for a period of not more than ____ years after becoming a sole
proprietor. *
A. 1 year
B. 2 years
C. 3 years
D. 4 years - Answers B. 2 years
, The death or disability of an individual CPA and/or the dissolution and liquidation of a firm or
partnership of CPAs shall be reported to BOA not later than _____days from the date of such death,
dissolution or liquidations. *
A. 15
B. 30
C. 6
D. 90 - Answers B. 30
Which of the following statements concerning a CPA's disclosure of confidential client information is
ordinarily correct? *
A. Disclosure may be made to any party on consent of the client
B. Disclosure should not be made even if such disclosure will protect the CPA's professional interests in
legal proceedings
C. Disclosure should be made only if there is a legal or professional duty to make the disclosure
D. Disclosure may be made to any government agency without subpoena. - Answers A. Disclosure may
be made to any party on consent of the client
Listed below are names of 4 CPA firms and pertinent facts relative to each firm. Unless otherwise
indicated, the individuals named are CPAs and partners, and there are not other partners. Which is a
violation of the IRR of RA 9298? *
A. Sweet, Love and Darling, CPAs (Sweet died about 5 years ago, Love and Darling are continuing the
firm)
B. Pilar and Pepe, CPAs (The name of Kiko, a 3rd partner, is omitted from the partnership name)
C. King and Kong, CPAs (King died about 3 years ago, Kong is continuing the firm as a sole proprietor)
D. Brandy and Company, CPAs (The firm has 10 other partners who are all CPAs) - Answers C. King and
Kong, CPAs (King died about 3 years ago, Kong is continuing the firm as a sole proprietor)
A registered CPA who I working or practicing his profession or furthering abroad shall be temporarily
exempted from compliance with CPE requirements during the period of his stay abroad, provided that
prior to the date or renewal he has been out of the country for at least *
