Final Exam in Law 1

I. True or False
1. & 10 True
2-9. False False
II. Enumeration (in any order)
Requisites of stipulation pour autrui

1. The contracting parties by their stipulation must have clearly and deliberately conferred a favor upon
a third person.
2. The third person must have communicated his acceptance to the obligor before its revocation by the
obligee or the
original parties.
3. The stipulation in favor of the third person should be a part, not the whole, of the contract.
4. The favorable stipulation should not be conditioned or compensated by any kind of obligation
whatever; and
5. Neither of the contracting parties bears the legal representation or authorization of the third party for
otherwise, the rules
on agency will apply.

Kinds of innominate contract

6. do ut des
7. do ut facias
8. facto ut des
9. facto ut facias
Rules governing innominate contract
10. the agreement of the parties
11. the provisions of the Civil Code on obligations and contracts
12. the rules governing the most analogous contracts
13. the customs of the place
Contract according to obligatory force
14. Valid
15. Rescissible
16. Voidable
17. Unenforceable
18. Void or inexistent
Contract according to risks
19. Commutative
20. Aleatory
Mistake of fact which does not vitiate consent
21. Error as regards the incidents of a thing
22. Mistake as to quantity or amount
23. Error as regards the motives of the contract
24. Mistake regards the identity or qualifications of a party
25. Error which could have been avoided by the party alleging it
Nature of intimidation o threat
26. It must produce a reasonable and well-grounded fear of an evil
27. The evil must be eminent and grave
28. The evil must be upon his person or property, or that of his spouse, descendants, or
ascendants
29. It is a reason why he enters into the contract

30. COMPLETE NAME OF THE TEACHER- Sir Roderick Von Panaguiton De Pedro,CPA,REA,NCIII

PRELIM EXAM IN AUDIT THEORY

ANSWER KEY
Framework for Assurance Engagements
1. a
2. a
3. d
4. c
5. a
6. a
7. b
8. b
9. b
10. c.

11. b
12. c
13. d
14. b
15. b
16. a
17. d
18. a
19. c
20. c

21. a
22. b
23. c
24. d
25. c
26. a
27. b
28. b
29. d
30. d

21. c
22. b
23. a
24. c
25. a
26. a
27. b
28. a
29. c
30. NO QUESTION
31. d
32. c
33. b
34. a
35. b
36. d
37. b
38. d
39. a
40. d

41. c
42. c
43. c
44. a
45. d
46. d
47. c
48. d
49. d
50. d
51. c
52. d
53. b

8. c
9. d
10. c
11. d
12. a
13. d
14. d

15. c
16. d
17. a
18. d
19. b
20. d
21. a

Risk Assessment Quizzer

1. a
2. b
3. c
4. c
5. a
6. b
7. d
8. d
9. a
10. d
11. a
12. a
13. d
14. d
15. a
16. d
17. a
18. d
19. a
20. b
The Auditors Response to Assessed Risks
1. d
2. c
3. 3,2,4,5,1
4. c
5. a
6. d
7. a

22. c
23. a
24. d

25. d
26. a
27. b

MID TERM EXAM IN AUDITING THEORY

ANSWER KEY
1. a
21. a
2. a
22. c
3. b
23. d
4. b
24. a
5. d
25. a
6. d
26. b
7. b
27. c
8. a
28. b
9. a
29. b
10. a
30. b
11. b
31. a
12. c
32. d
13. c
33. d
14. a
34. b
15. d
35. c
16. a
36. b
17. d
37. b
18. c
38. a
19. a
39. d
20. a
40. c
1. F
2. F
3. F
4. F
5. F

6. T
7. T
8. F
9. T
10. T

28. d
29. d
30. b

41. a
42. a
43. c
44. c
45. d
46. c
47. d
48. b
49. b
50. b
51. c
52. d
53. b
54. d
55. b
56. b
57. d
58. d
59. a
60. d

61. d
62. a
63. b
64. a
65. b
66. b
67. c
68. c
69. d
70. c
71. b
72. d
73. d
74. d
75. a
76. d
77. a
78. b
79. c
80. b
11. T
12. F
13. T
14. F
15. F

81. b
82. d
83. b
84. d
85. b
86. a
87. b
88. b
89. a
90. c
91. d
92. d
93. b
94. b
95. c
96. d
97. c
98. b
99. c
100. a
16. T
17. F
18. F
19. F
20. F