WorksheetsACCTG 26 PRFS for SMEs and CMO BSMA
Total questions: 10
Worksheet time: 5mins
Which of the following series of CHED Memorandum order does the BSMA program belong to?
CMO No. 27 series of 2017
CMO No. 28 series of 2017
CMO No. 29 series of 2017
CMO No. 30 series of 2017
In the Financial Statement presentation, PFRS for SMEs and PFRS for SEs, a departure from the standard is allowed from PFRSs for SMEs with special disclosures are required.
The statement is true
The statement is False
The statement is neither true nor false
None of the above
In comparing PFRS for SEs and PFRS for SMEs of financial statement presentation, which of the following item differs from each other?
Statement of Financial Position
Statement of Changes in Equity
Statement of Income
Notes to Financial Statements
The transition to the new standard is effective for annual financial statements for periods on or after __________________ with retrospective application. In which the standards provide also an earlier application that must be disclosed.
January 1, 2019
January 1, 2018
January 1, 2020
Either of the date mentioned
The following are first entry-level jobs for BSMA under commerce and industry except,
Junior Analysts
Cost Analyst
Budget Analyst
Cost Consultant
The following are middle entry-level jobs for BSMA under government except
State Accountant
Senior Auditor
Audit Services Manager
Senior Partner
The following are advanced position jobs for BSMA under government except
National Treasurer
COA Commissioner
BIR Commissioner
Chief Information Officer
The following are allied fields in business and economics except
Tourism and Travel Management
Social Sciences
Business Administration and Management
Real Estate Management
The following is the criteria for Medium-sized entities
Total assets of more than P 100 Million to P 350 million
Total assets of P 3 Million to P 100 million
Total Liabilities of more than P 250 million
Total Assets of more than P 350 million
Medium Entities(MEs) and Small entities(SEs) are those entities that
Are not required to file financial statements under Part II of SRC Rule 68(issues of securities to the public)
Are in the process of filing their financial statements for the purpose of issuing any class of instruments in a public market
Are holders of secondary licenses issued by regulatory agencies
None of the above
