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    Mas Questions

    Uploaded by

    Nieza Marie Miranda
    This document contains two sections that assess knowledge of management advisory services (MAS). Section I contains 10 true/false questions about MAS. Section II contains 10 multiple choice questions about the scope and purpose of MAS, as well as common reasons for hiring management consultants. The document tests understanding of key aspects of MAS, including the role of CPAs in providing these services and characteristics of MAS engagements.

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    © All Rights Reserved
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    Mas Questions

    Uploaded by

    Nieza Marie Miranda
    85 views3 pages
    This document contains two sections that assess knowledge of management advisory services (MAS). Section I contains 10 true/false questions about MAS. Section II contains 10 multiple choice questions about the scope and purpose of MAS, as well as common reasons for hiring management consultants. The document tests understanding of key aspects of MAS, including the role of CPAs in providing these services and characteristics of MAS engagements.

    Original Title

    MAS-QUESTIONS

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    This document contains two sections that assess knowledge of management advisory services (MAS). Section I contains 10 true/false questions about MAS. Section II contains 10 multiple choice questions about the scope and purpose of MAS, as well as common reasons for hiring management consultants. The document tests understanding of key aspects of MAS, including the role of CPAs in providing these services and characteristics of MAS engagements.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    85 views3 pages

    Mas Questions

    Uploaded by

    Nieza Marie Miranda
    This document contains two sections that assess knowledge of management advisory services (MAS). Section I contains 10 true/false questions about MAS. Section II contains 10 multiple choice questions about the scope and purpose of MAS, as well as common reasons for hiring management consultants. The document tests understanding of key aspects of MAS, including the role of CPAs in providing these services and characteristics of MAS engagements.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    You are on page 1of 3

    SUGGESTED ANSWER:

    I.True or false
    1.TRUE
    2. FALSE
    3.FALSE
    4. TRUE
    5. TRUE
    6.FALSE
    7. FALSE
    8.TRUE
    9.FALSE
    10. FALSE

    II. MULTIPLE CHOICE


    1.B
    2.C
    3.C
    4. C
    5.B
    6. D
    7.C
    8.D
    9.D
    10.B

    I. TRUE OR FALSE

    1. Adequate training and experience in both the analytical approach and process in the particular
    undertaking are requisites for the CPA to be involved in a management service engagement.
    2. It is up to professional judgment and discretion of the auditor/consultant to render decision for the
    client for as long as his professional fees are commensurate to the benefits that the client will
    serve from the engagement.
    3. In MAS practice, the consultant is the ultimate decision maker provided that he is correct in his
    decisions for the client.
    4. Businesses hire management consultants to help define specific problems and develop solutions.
    5. During the engagement, should there be significant changes between cost and anticipated
    benefits, the client should be informed.
    6. MAS refers to consulting services that is limited only to CPA to improve clients use of its
    capabilities and resources to achieve business objective.
    7. A CPA with MBA and PhD degrees is automatically qualified to render management services
    8. Included in the practice of consulting is the provision of confidential service in which the identity of
    the client is concealed.
    9. Strict adherence to generally accepted accounting principle is required in MAS.
    10. A non-CPA is prohibited under the revised accountancy law to engage in professional
    management advisory practice.

    II. Multiple Choice

    1.Which of the following is not an area of MAS?


    a. Conducting special studies
    b. Marketing and public relations work
    c. Introducing new ideas , concepts, methods
    d.Reviewing and suggesting improvement of policies, procedures,systems and methods

    2. A Certified Public Accountant’s scope of management services is broad and covers all of the following
    except:
    a. Change management engagement
    b. Computerization engagements
    c. Audit engagements
    d. Re-engineering jobs

    3. The following characterize management advisory services except


    a. Involve decision for the future
    b. Broader in scope and varied in nature
    c. Utilize more junior staff than senior member of the firm
    d. Relate to specific problems expert help is required

    4. Management services cover all of the ff.,Except


    a. project feasibility study
    b.system design and implementation
    c.audit, tax and legal services
    d.organizational development and planning

    5.The MAS engagement that involves providing assistance to management in relation to planning,
    controlling , and decision making
    a.financial management
    b.management accounting
    c.taxation
    d.financial accounting
    6.Which of the following is the primary purpose of MAS?
    a.to help clients identify the problem
    b.to help client maximize resources
    c. to reach and service more potential client
    d. to improve the client’s use of its capabilities and resources to achieve business objectives

    7.Most definition of consultancy would include services related to the following , EXCEPT
    a. Information technology
    b. corporate strategy
    c. legal advisory
    d. system and operations management

    8.Which of the following is not common reason for hiring management consultant?
    a. to render an independent opinion
    b.to provide special skills and experience
    c.to serve as catalyst for needed change in the workplace
    d.to implement solutions and decide on the business matter on behalf of the client
    9. The engagement letter generally includes the following , Except
    a.objectives and benefits
    b.fees and billing arrangement
    c.scope of work and role of the consultant
    d.personnel who will be assigned to the engagement team

    10.Management consultancy
    a. Is limited to CPA
    b. Is not limited to CPA
    c.can be practiced by anybody
    d. Is exclusive to the CPA profession

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