Begulatory Framework for usiness Transactions (RFBT) S*Foar CFF Bus 113. R Papm and 8 Loyou in Sompace Mania {799-9007 / 734.3969 (0910) 499-1320, [-dresareviewdnoima com REBT ~ PREWEEK CHOOSE THE LETTER THAT CORRESPONDS 19 THE BEST ANSWER, pi OBLIGATIONS Ted promised Robin that he wil gue hor 10.000 Rabin kk Barney. Robin kid B illed Barney and now demands the PO, 000. Ted able o Rabe? es, because the condition has been filed which makes the obgation due and demandable Yes, because there are reigeacalobigation, and the Berformance of one results fo i esuls fo the demandabiy othe No thei No, Rot Ted to give her 8 logalty ofa condo renders he ob 1 renders the obigabon vd in commited acme whch duals her to 2 neti money tom Ted In obigatons a gv @ determina thing, what degre of freugh ithe sal, Willan acon by B against or scecc pevoranoe prep? No tcl aia pty ss a 8. Ne A Bist ee fog tot cout c. Yes because Bakeay tro he mney rn ho ak 0. Yes Ahas aed areed wih 8 which nade the yeument edn bab pares rl veal lased house ant Barack 02 years at Sanh rota P090 amon Afr eit yea Oonle Semanae seal of 10000 arora die ner ram the sun ezease of he ceo, Wich oe Sec, hv na oo gorralnreasa in pes When Such rened ovate he tune, Oona! rout 8v aon Page 2 of 11 reste be dispute ts! bere° o ReSA — The Review School of Accountancy for @octment. Donald dered thal they had agroed toa lease fo. 2 yeas, there a contact oflease? |A. Yes, any contract of lease does not need to be in wn. Yes: the Satute of Frauds do not apply snc the contract herein is partaly consummated. c C._ No, absent any writen contact, laste cannot be established, D._ No, since the lessor denies the ease, tis conclusive, ‘SALES 34, Fist Staoment’ Sale is nota ade of acquiing ownership. 5. Slatement Detvary isthe operative mod that Wanstors ownership, aly the fst statement iste, B 8 Onyythe second statements tue, C._ None ofthe statements s te, 1. Both statements are tue. 38, {spouses are legally separated, a saleby one spouse fo notes i: A. Unenforceable i) B Void ©. Voidatle D. Vata 36. Whore the pice ofthe thing sold cane be determined and the thing has been delivered fo and appropnated by the buyer, how ‘much does the buyer have to pay? A. Price given by the seller © B,_ Price given by the buyer C._ Reasonable price D. Nothing 37. What distinguishes camest money trom option money? ‘AL Where is eamest money, incase of non-payment here can be an action for specific performance only while there is opton money, an action for specific perermance or for rescission can be fled by the inured party BI there is eamest maney, tile passes to the buyer upon delivery ofthe thing sold; while there is option money, ‘ownership is reserved tothe seller and isnot o pass un ‘ul payment C. The eamest money s a distinct consideration for an option contract; wile the option money is part ofthe purchase . Here is eamest mney he woutbe buyers not required io buy whe there is option money, th bye is ‘not bound to pay te baloce 38, trol fo an unaonped nied promis o by oF 1K. Negotaton 8 Prepacaion ©. Poletacon 1D. Generaton 29, reer oan ayreement that dominion i reserad tv of the ele ull be fl payment of purchase pce. acum sin sevanda 8 Pactum reserat dons ©. Pectum cammsorum jeonna 40, Who tare kf an dtroron le ting st bear perecion? A Seber Bre slender © None cea acon roster of 2 pate 41 Met apy evened eso of such detect os see ee Pca ‘a RFBT — PREWEEK (BATCH 37) Bs 1. Cumulative only 43, Fst Statement: The pledgor has the ight to demand return in cae ol reasonable grounds ear destebon or impatient of thethng wiht he plies au subject oe dt ot replacement Second Statement: The pldigorhas the rah to ad and be prefered at he poke auc, ‘A. Only first statement is true. 8. Only second statement tue, ©. Bath statment ate ue D._ None of he statements is tue {4 tte pldgor ar motgagris nl the owner ofthe hing pledged of mortgaged, the contract of pledge oF mortgage is; A” Vooabe 8 vod ©. Vale . Unentrceable 45. What distinguishes pledge from mortgage? ‘A. The thing pledged must be placed in the possession of the rade, oF ofa bird person by common agreement. 8. Pledgeisan accessory contact. ©. Thepledgor must be the ask owner ofthe hing pledged. 0, The pledgor must have kee disposal 46, Wine moigage is rol recorded nthe Regry of Propedy, ti: A Void 8, Voidatle CC. Binding between the parties D, Unenforeasle 47. Winen a catel mrigage fered ito as secant fr he purchase of personal property payable minster, no Getceney pgment canbe asked. Ry agreement he canary salle A Void 2B Veidable © Vala ©. Unenoreabie 48, Salen bonewed P50.000 om Ane and pledged he ng and ‘ace wath P20,000 and 90,000 especialy fo guaraioe the paymert of lan. Soler pay psd Are P25,000 ad demanded the retu othe trate. Can Solem demand the ret of he bracket? ‘A. Yes, because Slenn pa at ast hal othe loan 8. _Yes, because n case of paral payments, he edge can chocee any ofthe several ings pledge tobe retuned. C._ No, because Solon has ra ye ily adhe ene an ©. No, Because Solem pads han he vale ofthe «brea {n Apa, 2019, Ean borrowed P1000 rom Nico payable ‘on Apel 30, 2019) and pledged a promissory note ("} promise to poy Erwan or order 45,000 cn Ap 15, 20157, Sed By) by ndrsing sad note o Nico. hen there became du on ‘Api 15,2019, Nico demanded Bly to pay the note o which Bily complied. How much of he P15,000 can Nico keep for rimset? A P5000 8. Pro c. PI5000 D._ Noting Roger borowed P10, 000 fom Rat. To secure sa lan, Roger morgage Nova's car woth 200,00. When tne loan became de, Royo fae To pay. Can Rata proceed ote foreclosure ofthe motgage over the ca? "Yes because Rage edo pay the oan. Yes: prowded Raa notes Novak es. |No, because the morigage over the car was void. fo bcasse Rata mus demand payment fom Novek fst Page 3 of 11ReSA - The Review School of Accountancy Fast Statement i things are geting tougher than expected, you ‘must bold on and conte fo ght. ‘Second Statement: You wil become a CPA A Only the fst statement is rue Only the second statements tne None of the statements rue Both statements ae tuo, of Serena mortgaged her parc of and in Boracay woth 400,000, Saxd morgage was properly anroated tothe te of the lang. Serena later on sold the same parcel to Carne fr 300.000, Serona fad to pay he loan to Venus when it became due and Venus snow planning f foreclose the morigage. The land s now worth P200,000. How much does + Caroline need to pay Venus to prevent he foreclosure? A P200,000 8. 300000 © 00,000 >. 500,000 52. First Statement: Chattel mortgage on shares of socks need not ‘registered in the stock and transfer book ‘Second Statoment. A machinery instal by he lessee on the ‘eased premises may be subject of achat martgage. A. Only first statement is tue B Only second statement is true Both statements are tue, D._ None of the statements is te, ‘NEGOTIABLE INSTRUMENTS: '¥the instrument provides for payment in Japanese Yen, i it egotable? A” Yes, solong as the payments in Philippine pescs. B. Yes, money need net be legal tender, C. No, thas to be lagal tender D._ No. ithas tobe n Philippine pesos, B 54, ithe nstument prowdes for an caton to delver something liew of money, itis negetiable the option resides wth | ‘1 Sera borowed 800,000 am Venus. To secure sa oan, c B 8 A The maker 8. The holder CY The drawer D. The drawee B 55. the instrument provides for a sum of money payable in ‘stirs any eo wn Pay, tenant eat ese nt rtp 2 Yer bttets eametspoteon ono €. heesc times et Bh sna atone cl be pan ara D 56. Whichof the following affects the negotiabilty of an instrument? Seta rtance Rosen te tegen Ramen oa te peso ian 5. hone a ye ona : sy. Sneha te bla See tty aan > ema shai es & Eebapac dott uence i parma teree o PeSabeet rte emery se Rac ne pptntere esc Pi the same to Regina, Regina, however. indorses it 0 bole i | cers ee sn tn ane Ema an | “eat pe yn ge ronereg. tc ' A Te at rete sea ‘clone pan a nee etn G._ Nol wen Rega special indorsed the oe coe eae REBT — PREWEEK (BATCH 37) C59 A 60. c & ca D 64 ©. Yes, bul ony ater gong ater Regina fst \inen the signature in an insrument is forged, which of the Follow becomes wholy inoperative? ‘A. The whole instrument 8. _Allsignatresin the inatument ©. Only te forged signature The eorsament of he forger The making, drawng and isuing ofa checkin velo of BP 22 ‘s punishable by imprisonment of _ or by a fine of nat less than ‘butt moee than double the amount of he check whi fine salln no case exceed _, oF both a the discretion ofthe court, ‘A. Nol les than 30 days but not more than 1 yer; P200,000 ‘8. Not less than 6 months but net more than 1 year. P200,000 Notes than 30 days but ot more than 1 year. P100,C00 ©. _Notless than & months but not more than 1 year. P100,000 A parson violates BP 22 when, having suient funds in or rei wth the drawee Dank whien he makes or draws and issues a check, shal fa fo keep sufficient lands oto maintain a edi to cover the full amount ofthe check f presented wih a ered of how many days ram the date appearing thereon, for ‘which reason itis dishonored bythe drawee bank? A 60 days 8 30days C 90days D. 120days Where a check is drawn by a corporation, company or entity, ‘who shallbe liable in case of violation of BP 22? A. Presdent B Treasurer C._The person or person who actully signed the check in behalf of such drawer © Any director The making, draning and issuance of a check payment of which \s ehused bythe rawee because ofnsufcent finds n or credit ith such bank, when presented within 0 day ram the ‘ate ol the ches, shallbe evince ofkrowedge of such insufeency of funds or credit uness such maker of drawer ays the holder hereof the amount due thereon makes ‘arrangements for payment in fully the crawee of such check thin 5 banking days ater receiving notice that such check has not been paid bythe crane. A Substantal BConchsive C. Prima facie D.__Suticent It shall be constrid te mean an arangement or understanding wth the bank fr the payment of such check A Loan 5 Cash Debit DL Credit Any person who, having sufcant funds in or cet wih the Grawee bank when he makes or draws ad issues check, shall fal to keep suficent funds or to maitan a cre to cover the ful amount ofthe check if resented within a pero ol days ‘ro the date appearing thereon, for which reason tis Aishororad bythe drawee bank shale criminal able under P22 a 60 6 cw ths Fst Staement As a general ue. the paters ae the agants ot the parnersip hence. ace othe partners forthe account ef the partersip ae bring nol only onthe partnership tut aso con te mombers Page 4 of 11ree eee ReSA ~ The Review School of Sion Set thaws eames Toe sent hi a in the partes contribute all oer which acy ngs oem acon a i Pr tebe of dd the same among hemes, a wl as Sh roth te may cure oh, 8 Panecipa sta poet 3 ral partnership, : 62: los tes we ons lt pas fae ee ‘work during the existence of the A Pata pat oie & Panwa portray & Pamrsn tatpeant poke D._ Universal patnecenp of pros ©, Fe Saonn ie peer en oye rst ay om opines or menpnatcaminecuaion nett aes Property. signed by any of the partners, shall be necessary for vo : Sect Sorte gre peer a cpt Pototomwe have see wpe cennen es ee eer aoncyurmaer Te ntba eee & Si eesoortaasoene pees eiere Si jamin a meeting calles fr Be purpose RFBT- PREWEEK (BATCH 37) oficor ot a cooperate ay te ercwos by _avle D147, nred depost means the net amount de to any depositor for epost in an insured bank bu souk! not exceed: A. P1.o00.000 8. P250.000 ©. P300,000 D.Ps00.000, C148. Under te POIC Law, a joint account held by a judcal pereon ‘or eit joy wih a natural person shal be presumed ‘belong to he A. Natural person th the tical and natal persons sical person 1. One who fst es he clam C149. The proceeds ofthe insurance shal be paid by he POIC 10 the Aepostor whenever: |The depost les tne dain with supporting documents B._ The incured bank sibmits he Is of qualified depositors The insured bank is dosed on account of insohency 1. The oder rm the BSP to pays issued C150, The lm must be fled witha how many years rom he aia ‘leo yee? ® 31 a DS ci gee nial aad ES Wat do you oo Forward hs coming Christmas 2019? A Gits 8. Food and rest v © Tope caled a OPA Ali th above. C151, Frst Salement POIC shal commence the determination of insured deposts due the deposits ofa closed bank upon its ‘aia tateover of the coed bank. ‘Second Satement the account isl joy by two or more atl persons, orby two of more juncial persons o ents, the maximum nsuted depost shal be died nto as many ‘ual shares stare a yal, uidcal persons or nts unis aafferent ching i puted in he document ‘of post 1A Only heist stctomentis tue 1B Ohiythe second statment tue (CBothstaloments are true. None othe iafementss tue. 1B 152 Rachel ha an ndvual savings accountn the amount of 66,000 wih ABC Bark insured ih PDIC. She also has 2 ‘money market placement amcurting 10 PS00,000. Rachel also fae aot account wih Monica in the amount of PEDO 000. Menca as anoterjontaccourt wth Cental Perk Corporation ‘and Aksssandros, Ire nthe amount of Pt 50,000, 1 ABC Bank becomes insolvent, how much can Rachel lam fom poe? A P5000 8 P7sq000 c.a0q000 3 + P,000000 1D 158 hich of flown persons maybe eld ite for elting theres on sacery of bank epost? Bank et . 8. Bark manager Independent autre bank the barkto conduct regular aut 0» Abate above : B45, et Sltemen: Gash bar atboun'sis via fhe res on secrecy | peso bark depos. ‘Send Sale Banks epring covered and suspicious ‘anocbne under AMLA does ol wt he es cn see) tak deposits Page 9 of 11ic ReSA - The Review School ‘A. Only the irs statements tue. 8. Only the secon statement ist. ©. Bath statements ae ve . None ofthe statements is te. 155. Thee i no secrecy of bank epost ordered by the _ the ‘examination by law enfercoment fiers in eons cases. ‘A. Couto Appeals . Regional Trial Cout . “Municipal Trl Cout D._ Supreme Cou 156. Which cout can order the disclosure of bank deposits in cases whore the money deposited or invested ste tect of ‘Couto Appeals Regional Til Curt Supreme Court ‘Any competent court AMET ARIES 15 Forcasnos a covered ransacon inves an aout ‘Rates P5000 Breve of P5000 ©. Alleat P5,000.000 D. ln exoes of P5000 160. Fojeweny dele, covered vancacon ives nau A ‘least 000000 8 heres of P1,000000 Anat P5,000000 Bee PSO 161, Fiest Statement: Any person knowing thal a covered oF Pear or a, wo a do 20 fable nde MLA, ‘Second Statement Any person may be charged with and ‘convicted of both the offense of money laundering athe nlf acy eae Grip th rs seme ste Bye second stoner se ©. Bott samen ete Done ofthe stoners tue 162, Al records of al transactions of covered insttubons shall be Ac aap ard yar fom be eof Dw 163. Covered persons shill roperto the AMLC al covered ‘ransactons and suspoaustransactons wibie _ waking cays ffom occurence thereof, unless the AMLC oonemed ‘rescnbes adler petod nol exceeding _werkng days? A 5:10 B 515 C. 10,10 0. 10,15 164. How does the AMLC discharge is fnctons? ‘A ting unanimously 8 Aig anonymously 1C-~ By majaty vote fe ALC RFBT — PREWEEK (BATCH 37) of Accountancy aa 1s. tense er ot ye Cat cl pen, abe ‘Sohne a poebel 8 20 c 30 a) 166, Alcases on money laundering shal bo wihin te jiadiion of ‘A. Regina Tal Courts (RTC) 8 Gout Appeais (CA) ©. Seniganbayan ($8) 1. Couto Tax Appel (CTA) 167. The power to eeze accounts s vested unto A AMG 8. Courtot Appeals (CA) C. Court ot Tax Appeals (CTA) D._ Supreme Cout ($C) 168. Wh serves as Charman of he AMLC? ‘A. surance Commission Chalman 8. SEC Charman ©. B5P Governor D. DOF Secretary LEMAR 5 169, refers to an artiste creation wi titra cons or ‘ncrporaedn a seh atic, whether made by hand or ‘rotuced on an nats A ot wrt 8. Colectie work Coit prosut D. Werkot oped art 10, Foe pupoes of exion, who ows te cop veran audowsual won? A Prodcae Bcposer fuer ._Deecor 171. Abe mar regian cana he raqired deka of cial ie, he must show vl rasan fr nonase win one year tom he anniversary date of epson Ae a cx 0. 2 : 172 Wali te trm of registered rade? ae a 2 0 0. 10 172. Using soe’ pone, Monica ok pce of Ross issn Rachel Who owns the opyight ove image? A so3y 8 Wario ©. Ross D. Ractete 174. When dose 20a t fa pert commence? 1A" Datel ig 8 Dato fstpubcan {Ca competn of uticaten D. Date ol appo ‘75. The presrbed prosessng ee or simple ransacons nat ‘overnment agencies is: A Swng days 8 Swerkng days ©. Twerking days ©. 20 woking days “Fach success star's with a brave and bold decision fo at feast be ae Page 10 of 11ReSA - The Review School of Accountancy 176. The presorbed processing te for comple transactions in a ‘government agencies i: A 3 werkng days 8S werking days CP werkng days DL 20 woking days 177 The presenbed processing time for ight tetnicalarsactons inal government agenesis. AS workag days B.S working days CF wevking days © 20 vorkng days 178 i eas a goverment agony fal o approve or regve on «rig snpaton win the reser proces he, the ‘sad appicaen shal be ‘A. Deemed approved Deemed denied C._ Pending uni decided ©. Retuned back tthe fer 179, Fir Sateen No conlatin any manner wih ary tequesing party concerning an appeabon ot request excep dum ‘submission of document Second Statement: Once the Philppe Busrss Dtakort is sup, appicanis belo government agencesteca government nis need nol sub he same doce ‘equiemens rewousi submited ‘A Only the first sfatementis tue. 8 Onythe socond statements tue C._Bothstalements are tue None ofthe stetoments re 180, Wich neods tobe established o receive and capture zopkcalon dota on business reas transact a pecs Inks fo online registration of naonal government agencies? ‘A Philipine Business Databank B.Philipine Business Database C. Genter Business Portal 0. Cental Business Portal 181, How ong isthe suspenson of ese otenders unde the EODB Act? At menth B Sons €. Smonths O. tyear 182. Who cars the EODBIART Adsory Counc? A DT Secretary 8 DOF Secretary C. DICT Secretary 5. DLG Secetay 183. hati tem of wo ropceseniabves apoited byte Presiden from the pate seco tothe EODBIART Aansory Cou? A Oneyear Two years Tees years DL. Five years 184. Vo as the Vice Cai fe EOOBIART Aaisny Counc? 1A ARTA Dier-Generl ARTA Soctlay-Goneral DICT Secretary DL DILG Secretary ‘DATA PRIVACY 485, Dung a medical consultation, the doctor secretly recorted ihe corwersaion wi the part so he can make notes more Completely afer the consutaon. Which ofthe dala privacy rights was wolated? 1A. Righito be formed Rigo acess C._ Righo object D._Nonght was viited 106. Watkin of accoss must be given to a dala subject an ‘rparization hos any personal data abou the data subject? AL Rosalie RFBT — PREWEEK (BATCH 37) ay 8 Limted Reasonable 0. No acess savaiole 1 187, For whic purposes can personal data be processed despite from the data suboc? ‘AY Direct marketing purposes 3. Profilng purposes Automate processing purposes 10 Subpoena issued by the courts 1188. an cxganizaton has your personal data which appears 10 be ‘ncarec and you wish lo have i effled, o whom should YOU request he data recitation? Data Protecton fice Persona Inormaton Processor Naboral Privacy Commission Rogoral Trl Cout ‘ELECTROMIC COMMERCE 189. On March 1, 2019, cna, trough a text essape, offered 0 )_sAlistnd itary or P1600, nse cpt she must inform him in trough an email address provided. Hilary accepted Donal’ offer by replying te Donald's text on March 2, 20, which Donald was able o read on March 3, 2019. On arch, 2019, Donald ded, Is there a pedectd contract of ab? 1A No, because Hilary's acceptance was not made through the email aderess provided 1B. No, because Donald has already died and can no longer perorm any contractual obiaton. 6. Yes, because Dana has knowledge of Hilary's accoptancetreugh atext message on March 2, 2019, Yes. because the contract is perfected once Hilary has acteples even i rot became known to Donal, 'B 190 On March 1, 2019, Donald, through a text message, offered to calls Land to Hilary for P10,000 lary accepted Donal's ‘iby sending an ema te Donald on March 2,2019, which ‘onal was abet read on March 3, 2019. On March 4, 2019, ‘wondering i Donald received her ema, Hilary sont atoxt ‘message fo Donald signing once again her aoceptance of Dona’ ofr. Al thal imo, Donal’ sister, Melania was the ‘ne holding Donalds phone and read Hilary's text to which olan immediately replied. When was the contact of sale cand pertecea? A March 2, 2019 8. Maren}, 2019 Marcha, 2019 DL Never ece> ‘ty wee ors one peach comng May 2019 CPALE who shoud be? A Seatnate 8. Proctor Seen guard D_ Nyse Believe in HIM! GopBLess CPAs! Page 11 of 11