August 10, 2017
MRS. ANICETA R. DURAN
c/o CHRISTOPHER ALBERT DURAN
Poblacion / Dulong Bayan
Quezon, Nueva Ecija
-andAl Badri Medical Center
Al Imam Saud Ibn Abdul Aziz Branch Rd.
Al Masif, Riyadh 12467, Saudi Arabia
Dear Mrs. Duran:
1. The physical inventory of Pangasinan Company on December 31, 2009 showed
merchandise with a cost of P 4,000,000 was on hand at that date. You also discovered the
following items were all excluded from the count:
a. Merchandise costing P160,000 , which
1. The Fitness Health Spa charges a non refundable annual membership fee of P 6,000 for
its services. For this fee, each member receives a fitness evaluation (value P 1,000 ), a
monthly magazine (annual value P 320), and 2 hours use of the equip
PPL CUP PRTC - EASY
1. Aaron Company sells subscription to a specialized directory that is published semi
annually and shipped to subscribers on April 15 and October 15. Subscriptions received
after March 31 and September 30 cutoff dates are held for the
BY: Rene Callanta
DEFINITION OF TAXATION
Taxation is the inherent power of the sovereign, exercised through the
legislature, to impose burdens upon the subjects and objects within its jurisdiction,
for the purpose of raisi
Chapter 15IT Controls Part I: Sarbanes-Oxley and IT Governance
1. Corporate management (including the CEO) must certify monthly and annually their organizations in ternal controls over financial reporting.
2. Both the SEC and the PCAOB r
Chapter 17IT Controls Part III: Systems Development, Program Changes, and
1. Programs in their compiled state are very susceptible to the threat of unauthorized modification.
2. Maintenance access to systems increase
Chapter 16IT Controls Part II: Security and Access
1. In a computerized environment, the audit trail log must be printed onto paper documents.
2. Disguising message packets to look as if they came from another user and to gain access to
Chapter 14Construct, Deliver, and Maintain Systems Projects
1. The detailed design phase of the Systems Development Life Cycle is a linear process with each of five
steps occurring once and in its proper sequence.
2. In a Computer Aided
Chapter 13Managing the Systems Development Life Cycle
1. The majority of the cost of a system is incurred in the new systems development phase of the life
2. According to the text, a stakeholder is an end user of a system.
Chapter 9Database Management Systems
1. The database approach to data management is sometimes called the flat file approach.
2. The Database Management System provides a controlled environment for accessing the database.
3. To the
Chapter 11Enterprise Resource Planning Systems
1. The primary goal of installing an ERP system is reducing system maintenance costs.
2. The recommended data architecture for an ERP includes separate operational and data warehouse data ba
Chapter 12Electronic Commerce Systems
1. Because of network protocols, users of networks built by different manufacturers are able to commu nicate and share data.
2. Electronic commerce refers only to direct consumer marketing on the Int
Chapter 8General Ledger, Financial Reporting, and Management Reporting
1. The most common means of making entries in the general ledger is via the journal voucher.
2. Individuals with access authority to general ledger accounts s
Chapter 10The REA Approach to Business Process Modeling
1. According to the REA philosophy, information systems should support only the needs of accounting
2. Many believe that the accounting profession should shift away f
Chapter 7The Conversion Cycle
1. The philosophy of customer satisfaction permeates the world-class firm.
2. Reports generated by the cost accounting system include performance reports and budget reports.
3. The cost accounting sys
Chapter 3Ethics, Fraud, and Internal Control
1. The ethical principle of justice asserts that the benefits of the decision should be distributed fairly to
those who share the risks.
2. The ethical principle of informed consent suggests t
Chapter 5The Expenditure Cycle Part I: Purchases and Cash Disbursements
1. Purchasing decisions are authorized by inventory control.
2. The blind copy of the purchase order that goes to the receiving department contains no ite
Chapter 1The Information System: An Accountants Perspective
1. Information is a business resource.
2. An information system is an example of a natural system.
3. Transaction processing systems convert non-financial transactions in
Chapter 4The Revenue Cycle
1. The packing slip is also known as the shipping notice.
2. The bill of lading is a legal contract between the buyer and the seller.
3. Another name for the stock release form is the picking ticket.
Chapter 6The Expenditure Cycle Part II: Payroll Processing and Fixed Asset
1. Time cards are used by cost accounting to allocate direct labor charges to work in process.
2. The personnel department authorizes changes in employ
Chapter 2Introduction to Transaction Processing
1. Processing more transactions at a lower unit cost makes batch processing more efficient than real-time
2. The process of acquiring raw materials is part of the conversion cycle.