Polytechnic University of Philippines

College of Accountancy and Finance

Junior Philippine Institute of Accountants
Sta. Mesa, Manila

Instructions: Select the best answer for each of the following questions. Mark only one answer for each
item on the answer sheet provided. Strictly NO ERASURES ALLOWED. Please observe HONESTY at all
times and at all costs. Good luck and God bless! 

Theories (35 items)

1. What is the law regulating the practice of accountancy in the Philippines?
a. R.A. No. 9928
b. R.A. No. 9892
c. R.A. No. 9298
d. R.A. No. 9198

2. In assessing the financial position of an entity, what indicates the amount of the assets financed by
creditors and owners?
a. Solvency.
b. Financial Structure.
c. Financial Position.
d. Capacity for Adaptation.

3. Which of the following is not a business transaction?

a. DAVAO deposits P 25,000 in a bank account in the name of DAVAO’s Day care.
b. DAVAO pays her monthly personal credit card bill.
c. DAVAO provided services to customers earning fees of P 300.
d. DAVAO purchased cribs for her day care agreeing to pay the supplier next month.

4. Which underlying concept serves as the basis for preparing financial statements at regular
intervals?
a. Time period.
b. Stable monetary unit.
c. Going concern.
d. Accounting entity.

5. A liability is
a. The residual interest in the assets of the enterprise after deducting all of its creditors’ equity.
b. Equivalent to all financial resources of the enterprise.
c. A resource controlled by the enterprise as a result of past events and from which future
economic benefits are expected to flow to the enterprise.
d. A present obligation of the enterprise arising from past events the settlement of which is
expected to result in an outflow from the enterprise of resources embodying economic benefits.

6. This process involves the simultaneous or combined recognition of revenue and expenses that
result directly and jointly from the same transactions or other events on the basis of direct
association between costs incurred and the earning of specific items of income.
a. Systematic and rational allocation.
b. Matching of revenue with costs.
c. Matching of cost with revenue.
d. Immediate recognition.

7. Generally, revenue is recognized

a. When cause and effect are associated.
b. At the point of sale.
c. At the point of cash collection.
d. At appropriate points throughout the operating cycle.

8. Which of the following statements best describes the term going concern?
a. When current liabilities of an entity exceed current assets.
b. The potential to contribute to the flow of cash and cash equivalents to the entity.
c. The expenses exceed income.
d. The ability of the entity to continue in operation for the foreseeable future.
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9. Which is the accounting standard setting body in the Philippines at the present time?
a. Philippine Accounting Standards Board.
b. Financial Reporting Standards Council.
c. Auditing and Assurance Standards Council.
d. Accounting Standards Council.

10. An adjusting entry should never include

a. A debit to revenue and a credit to liability.
b. A debit to liability and a credit to revenue.
c. A debit to expense and a credit to revenue.
d. A debit to expense and a credit to liability.

11. An optional step in the accounting cycle is the preparation of

a. Posting to the ledger and unadjusted trial balance.
b. Post-closing trial balance and reversing entries.
c. Closing entries.
d. Adjusting entries.

12. The double entry accounting system means

a. The dual effect of each transaction is recorded with a debit and a credit.
b. Each transaction is recorded with two journal entries.
c. Each item is recorded in a journal entry and then in a general ledger account.
d. All of these describe the double entry system.

13. The trial balance

a. Uncovers any errors in journalizing and posting prior to preparation of the statement of
financial position.
b. Proves that debits are greater than credits when the entity had net income.
c. Is useful in preparing the statement of financial position.
d. All of the choices are correct.

14. Which of the following statements best describes the purpose of closing entries?
a. To reduce the balance of temporary accounts to zero.
b. To facilitate posting and taking a trial balance.
c. To determine the amount of net income or net loss of the period.
d. To complete the record of various transactions that was started in a prior period.

15. The post-closing trial balance

a. Provides a convenient listing of account balance that can be used to prepare the financial
statements.
b. Proves that accounts have been closed properly.
c. Is identical to the statement of financial position.
d. Does not include nominal accounts.

16. If an entity initially records prepayments in real accounts and make reversing entries when
appropriate, which of the following adjusting entries should be reversed?
a. The adjusting entry to record the portion of service fees received in advance that is earned by
year-end.
b. The adjusting entry to record supplies used during the period.
c. The adjusting entry to record service fees earned by year-end but not billed.
d. The adjusting entry to record depreciation for the period.

17. Under the voucher system, a voucher register is the

a. Subsidiary for the vouchers payable account where the vouchers are arranged in the order of
required date of payment.
b. Journal where all vouchers are recorded in numerical sequence.
c. Journal where all checks issued for payment are recorded.
d. Business document or written authorization for every cash disbursement.

18. A transposition error is an error

a. Of interchanging the figures.
b. Of placing the decimal point.
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 Fundamentals of Accounting/Partnership and Corporation
c. Of not recording the transaction.
d. Which if not detected, is automatically compensated, or corrected in the next accounting period.

19. MANILA extracted the trial balance for the year ended December 31, 20xx. The total of the debits
column exceeded the credits by P 300. Which of the following could explain the imbalance?
a. The bank ledger account did not agree with the bank statement by P 300.
b. Sales of P 300 were omitted from the sales day book.
c. Return inwards of P 150 were extracted to the credits of the trial balance.
d. Discounts received of P 150 were extracted to the debit column of the trial balance.

20. LUZON, VISAYAS and MINDANAO are partners. Their contributions are as follows: LUZON, P
60,000; VISAYAS, P 40,000; MINDANAO, services. The partners did not agree on how to divide
profits and losses. If there is a loss of P 10,000, how should the said loss of P 10,000 be shared by
the partners?
a. LUZON, P 6,000; VISAYAS, P 4,000; MINDANAO, nothing.
b. LUZON, P 3,500; VISAYAS, P 3,500; MINDANAO, P 3,000.
c. LUZON, P 3,500; VISAYAS, P 2,500; MINDANAO, P 4,000.
d. LUZON, P 3,000; VISAYAS, P 2,000; MINDANAO, P 5,000.

21. A partner who, although not actually a partner, is made liable for the debts of the partnership to
third person by reason of his acts or omissions is called
a. Silent partner.
b. Ostensible partner.
c. Nominal partner.
d. Dormant partner.

22. Two individuals who were previously sole proprietors formed partnership. Property other than
cash which is part of the initial investment in the partnership would be recorded for financial
accounting purposes at the
a. Proprietors’ book values or the fair values of the property at the date of investment, whichever
is higher.
b. Proprietors’ book values or the fair values of the property at the date of investment, whichever
is lower.
c. Proprietors’ book values of the property at the date of investment.
d. Fair value of the property at the date of the investment.

23. Which of the following is not a characteristic of most partnership?

a. Mutual agency.
b. Limited life.
c. Limited liability.
d. Ease of formation.

24. Partnership capital and drawings accounts are similar to the corporate
a. Retained earnings.
b. Preferred and common stock accounts.
c. Paid in capital, retained earnings, and dividend accounts.
d. Paid in capital and retained earnings.

25. Which of the following is not a component of the formula used to distribute income?
a. Salary allocation to those partners working.
b. Interest on the average capital investments.
c. Interest on notes to partners.
d. After all other allocation, the remainder divided according to the profit and loss sharing ratio.

26. In accounting for the lump-sum liquidation of a partnership, cash payments to partners after all
non-partner creditor’s claims have been satisfied, but before the final cash distribution, should be
according to
a. The partners’ relative profit and loss sharing ratio.
b. The final balances in partner capital accounts.
c. The partners’ relative share of the gain or loss on liquidations.
d. Safe payment computations.

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27. In a partnership liquidation, the final cash distribution to the partners should be made in
accordance with the
a. Partner profit and loss sharing rations.
b. Balances of partners’ capital accounts.
c. Ratio of the capital contributions by partners.
d. Safe payment computations.

28. The doctrine of marshalling of assets

a. Is applicable only if the partnership is insolvent.
b. Is applicable if either the partnership is insolvent or individual partners are insolvent.
c. Amount owed to personal creditor and to the partnership for debit capital balances are shard
proportionately from the personal assets of the partners.
d. Allows partners to first contribute personal assets to unsatisfied partnership creditors.

29. In accounting for shareholder’s equity, the accountant is primarily concerned with which of the
following?
a. Recording the source of each of the various elements of shareholders’ equity.
b. Making sure that the directors do not declare dividends in excess of retained earnings.
c. Distinguishing between realized and unrealized revenue.
d. Determining the total amount of shareholders’ equity.

30. Contributed capital does not include

a. Share premium on ordinary and preference shares.
b. Preference share capital.
c. Capital resulting from reissuance of treasury shares at a price above acquisition price.
d. Capital accumulated by retention of earnings.

31. Total shareholders’ equity represents

a. The maximum amount that can be borrowed b the entity.
b. Only the amount of retained earnings.
c. A claim against specific assets contributed by the owners.
d. A claim against a portion of the total assets of an entity.

32. The par value of an ordinary share represent

a. The liquidation value of the share.
b. The legal nominal value assigned to the share.
c. The book value of the share.
d. The amount received by the entity when the shares were originally issues.

33. Two or more kinds of dividends paid by the corporation is called

a. Scrip.
b. Property cash.
c. Composite.
d. Cash stock.

34. Persons who compose the corporation whether as stockholders or members are called
a. Subscribers.
b. Promoters.
c. Incorporators.
d. Corporators.

35. A class of stock which entitles the holder before any dividends whatever are paid to the holders of
the common stock, to a dividend measured not only by the contracts amount for the current
dividend period but also by any deficiency or are ages in the payment of the dividends accrued in
the previous dividend period is
a. Preferred stock as to asset.
b. Cumulative preferred stock.
c. Participating preferred stock.
d. Bonus stock.

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Problems (35 items)
36. Which is the best explanation for this journal entry?
June 26 Equipment 14,000
Cash 4,000
Notes Payable 10,000

a. Purchased equipment on credit.

b. Purchased equipment, paid cash for the entire amount.
c. Purchased equipment, paid cash of P 4,000, with the remainder to be paid in payments.
d. Purchased equipment, paid cash of P 4,000, with the remainder to be received in the future.

37. The accounts in the ledger of NAGA are listed below. All accounts have normal balances.
Accounts Payable P 500 Fees Earned P 2,000
Accounts Receivable 800 Insurance Expense 300
Investment 1,000 Land 2,000
Cash 1,600 Wages Expense 400
Dividends 200 NAGA, Capital 1,800

The total of all the assets is

a. P 4,400 b. P 5,300 c. P 5,200 d. P 4,700

38. BOHOL purchased a one-year insurance policy on June 1 for P 840. Upon inspection of the trial
balance, you have noticed the real account of Prepaid Insurance with an amount of P 840. The
adjusting entry on December 31 is
a. Debit Insurance Expense, P 280, and Credit Prepaid Insurance, P 280.
b. Debit Insurance Expense, P 350, and Credit Prepaid Insurance, P 350.
c. Debit Insurance Expense, P 490, and Credit Prepaid Insurance, P 490.
d. Debit Prepaid Insurance, P 720, and Credit Cash, P 720.

39. The following adjusting journal entry was found on page 4 of the general journal. Select the best
explanation of the entry.
Dec 31 Unearned Revenue 4,500
Fees Earned 4,500
???

a. Record fees earned at the end of the month.

b. Record fees that have not been earned at the end of the month.
c. Record payment of fees earned.
d. Record the payment of fees to be earned.

40. ILOCOS is using periodic inventory system. For the year, its total purchases amounted to P 250,000.
Its unsold merchandise at the end of the year has a cost of P 5,000 which is 80% of its beginning
inventory. ILOCOS’s cost of sales is
a. P 250,000 b. P251,250 c. P249,000 d. P248,750

41. The purchase invoice shows the amount of P 250,000, 2/10, 1/20, n/30; FOB Destination, Freight
Collect, P 200. If the account is paid 15 days after the invoice date, the net payment should be
a. P 245,000 b. P 247,500 c. P247,300 d. P 244,800

42. CAGAYAN sold merchandise at list price of P 250,000, less trade discount of 10%, 5%; n/30. Part of
the sale amounting to P 10,000 was returned due to defect. The amount to be collected by
CAGAYAN is
a. P 205,200 b. P 203,750 c. P 204,000 d. P 195,200

43. At the end of 2017, QUEZON made four adjusting entries for the following items:
I. Depreciation Expense
II. Expired insurance (originally recorded as prepaid insurance)
III. Interest payable
IV. Rental revenue receivable
In the normal situation, to facilitate subsequent entries, the adjusting entry or entries that may be
reversed is/are
a. I only. b. IV only. c. III and IV only. d. II, III, and IV only.

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44. BULACAN loaned P 300,000 to PAMPANGA on December 1, 2016 and received a 3-month, 15%
interest-bearing note with a face value of P 300,000. What adjusting entry should BULACAN make
on December 31, 2016?
a. Debit Cash and Credit Interest Income, P 3,750.
b. Debit Cash and Credit Interest Receivable, P 7,500.
c. Debit Interest Receivable and Credit Interest Income, P 3,750.
d. Debit Interest Receivable and Credit Interest Income, P 7,500.

45. BAGUIO reported an allowance for doubtful accounts of P 12,000 (credit) at December 31, 2016
before performing an aging of accounts receivable. As a result of the aging, BAGUIO determined that
an estimated P 20,000 of the year-end Accounts Receivable would prove uncollectible. The
adjusting entry at year-end would include a credit to
a. Allowance for Doubtful Accounts, P 8,000.
b. Accounts Receivable, P 8,000.
c. Doubtful Accounts Expense, P 8,000.
d. Interest Revenue, P 8,000.

46. At the beginning of 2017, PALAWAN bought machinery for a total cash consideration of P
1,100,000. The machinery has an estimated useful life of 10 years and residual value of P 50,000.
The entity used straight line depreciation. The adjusting entry at year-end would include a debit to
a. Accumulated Depreciation, P 105,000.
b. Accumulated Depreciation, P 110,000.
c. Depreciation Expense, P 105,000.
d. Depreciation Expense, P 110,000.

47. The following accounts were taken from the Adjusted Trial Balance columns of the worksheet:
Accumulated Depreciation P 2,000
Fees Earned 15,000
Depreciation Expense 1,000
Insurance Expense 500
Prepaid Insurance 4,500
Supplies 1,200
Supplies Expense 3,500

Net income for the period is

a. P 2,300 b. P 10,000 c. P 4,300 d. P 5,000

48. The column of the income statement show the debits are equal to P 56,899 and credits are P
60,333. What does this information mean to the accountant?
a. Net income of P 3,434.
b. Net loss of P 3,434.
c. The accounts are out of balance.
d. It means no information to the accountant.

49. CEBU provided the following information for the current year:
Merchandise purchased for resale P 4,000,000
Freight In 100,000
Freight Out 50,000
Purchase Returns 20,000
Interest on inventory loan 200,000

The net purchase to be presented in an income statement amounts to

a. P 4,280,000 b. P 4,030,000 c. P 4,080,000 d. P 4,130,000

50. PANGASINAN and TAWI-TAWI entered into a partnership agreement in which PANGASINAN is to
have a 60% interest in capital and profits and TAWI-TAWI is to have a 40% interest in capital and
profits. PANGASINAN contributes the following:
Cost Fair Value
Land P 20,000 P 40,000
Building 200,000 120,000
Equipment 40,000 30,000
There is a P 60,000 mortgage on the building that the partnership agrees to assume. TAWI-TAWI
contributes P 100,000 cash to the partnership. The partnership formation provided for
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a. Bonus of P 8,000 to TAWI-TAWI.
b. Bonus of P 8,000 given by TAWI-TAWI.
c. Bonus of P 8,000 given by PANGASINAN.
d. Bonus of P 8,000 to PANGASINAN and TAWI-TAWI.

51. On April 30, 2016, TAGUIG, MAKATI and SAN JUAN formed a partnership by combining their
separate business proprietorships. TAGUIG contributed cash of P 100,000. MAKATI contributed
property with a carrying amount of P 72,000, original cost of P 80,000, and fair value of P 160,000.
The partnership accepted responsibility for the P 70,000 mortgage attached to the property. SAN
JUAN contributed equipment with a carrying amount of P 60,000, original cost, P 150,000, and fair
value of P 110,000. The partnership agreement specifies that profits and losses are to be shared
equally but is silent regarding capital contributions. Which partner has the largest capital account
balance as of formation date?
a. TAGUIG. b. MAKATI c. SAN JUAN d. All capital is equal.

52. The partnership agreement between ROMBLON and MARINDUQUE stipulates that ROMBLON is to
receive a 20% bonus on profits before bonus, with the residual profit and loss to be apportioned in
the ratio of 2:3, respectively. Which partner has a greater advantage when the partnership has a
profit and when it incurred a loss?
a. Profit: Reyes; Loss: Moran.
b. Profit: Moran; Loss: Reyes.
c. Profit and Loss: Reyes.
d. Profit and Loss: Moran.

53. BATANGAS, RIZAL, and LAGUNA are partners with average capital balances in 2016 of P 240,000, P
120,000 and P 80,000, respectively. Partners receive 10% interest on their average capital
balances. After deducting salaries of P 60,000 to BATANGAS and RIZAL, the residual profit or loss is
divided equally. In 2016, the partnership sustained a P 66,000 loss before interest and salaries to
partners. By what amount should BATANGAS’s capital account change?
a. P 14,000 inc b. P 22,000 dec c. P 70,000 dec d. P 84,000 dec

54. MINDORO contributed P 24,000 and CAVITE contributed P 48,000 to form a partnership and they
agreed to share profits in the ratio of their original capital contributions. During the first year of
operations, they made a profit of P 16,920; MINDORO withdrew P 5,050 as well as CAVITE, P 8,000.
At the start of the following year, they agreed to admit ABRA into the partnership. He was to receive
a one-fourth interest in the capital and profits upon payment of P 30,000 to MINDORO and CAVITE,
whose capital accounts were to be reduced by transfers to ABRA’s capital account of amounts
sufficient to bring them back to their original capital ratio. How much should MINDORO received
from the P 30,000 payment of ABRA?
a. P 9,825. b. P 15,000 c. P 10,000 d. P9,300

55. BATANES and JOLO are partners who have capitals of P 600,000 and P 480,000 sharing profits in
the ratio of 3:2. APARRI is admitted as a partner upon investing P 500,000 for a 25% interest in the
firm, profits to be shared equally. Given the choice between asset revaluation and bonus methods,
APARRI will
a. Prefer bonus method due to APARRI’s gain of P 35,000.
b. Prefer bonus method due to APARRI’s gain of P 140,000.
c. Prefer asset revaluation method due to APARRI’s gain of P 140,000.
d. Be indifferent because the asset revaluation and bonus methods are the same.

56. As of December 31, 2016, the books of STZ Partnership showed capital balances of SORSOGON – P
40,000; TUGUEGARAO - P 25,000; ZAMBOANGA - P 5,000. The partner’s profit and loss ratio was
3:2:1, respectively. The partners decided to dissolve and liquidate. They sold all the non-cash assets
for P 37,000 cash. After settlement of all liabilities amounting to P 12,000, they still have P 28,000
cash left for distribution. The loss on realization of the non-cash assets was:
a. P 28,000 b. P 40,000 c. P 42,000 d. P 45,000

57. Using the same information in no. 56, and assuming that any debit balance of partners’ capital is
uncollectible, the share of SORSOGON on the P 28,000 cash for distribution was:
a. P 17,800 b. P 18,000 c. P 19,000 d. P 28,000

58. THE STZ Partnership has assets with book value of P 240,000 and a fair value of P 195,000, outside
liabilities of P 70,000, loans payable to SORSOGON of P 20,000, and capital balances for SORSOGON,
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TUGUEGARAO, and ZAMBOANGA of P 70,000, P 30,000 and P 50,000, respectively. The partners
share profit and losses equally. How would the first P 100,000 of available assets be distributed?
a. P 70,000 to outside liabilities, P 20,000 to SORSOGON, and the balance equally among partners.
b. P 70,000 to outside liabilities and P 30,000 to SORSOGON.
c. P 70,000 to outside liabilities and P 25,000 to SORSOGON, and P 5,000 to ZAMBOANGA.
d. P 40,000 to SORSOGON, P 20,000 to ZAMBOANGA and the balance equally among the partners.

59. Using the same information in no. 58, and assuming if all outside creditors and loans to partners
had been paid. How would the balance of the assets be distributed assuming ZAMBOANGA had
already received assets with a value of P 30,000?
a. Each of the partners would receive P 25,000.
b. Each of the partners would receive P 40,000.
c. SORSOGON, P 70,000; TUGUEGARAO, P 30,000; ZAMBOANGA, P 20,000.
d. SORSOGON, P 55,000; TUGUEGARAO, P 15,000; ZAMBOANGA, P 5,000.

60. NUEVA ECIJA provided the following information at year-end:

Preference share capital, P 100 par P 2,300,000
Share premium – preference shares 805,000
Ordinary share capital, P 10 par 5,250,000
Share premium – ordinary share 2,750,000
Subscribed ordinary share capital 50,000
Retained earnings 1,900,000
Notes payable 4,000,000
Subscription receivable – ordinary shares 400,000

What is the amount of legal capital?

a. P 7,550,000 b. P 7,600,000 c. P 13,055,000 d. P 11,150,000

61. At the beginning of current year, NUEVA VISCAYA was organized with authorized capital of 100,000
shares of P 200 par value. On January 10, the company issued 25,000 shares at P 220 a share. On
March 25, the company issued 1,000 shares for legal services when the fair value was P 240 a share.
On September 30, the company issued 5,000 shares for a tract of land when the fair value was P 260
a share. What amount should be reported as share capital?
a. P 7,640,000 b. P 6,200,000 c. P 7,440,000 d. P 5,000,000

62. Using the same information in no. 61, what amount should be reported as share premium?
a. P 840,000 b. P 800,000 c. P 540,000 d. P 500,000

63. TAGAYTAY had 80,000 ordinary shares outstanding in January 2016. The entity distributed a 15%
stock dividend in March and a 10% stock dividend in June. After acquiring 10,000 shares of
treasury in July, the entity split the share 4 for 1 in December. How many ordinary shares are
outstanding on December 31, 2016?
a. 364,800 sh b. 488,000 sh c. 498,000 sh d. 451,500 sh

64. MT PROVINCE provided the following information:

 Dividends on 10,000 cumulative preference shares of 10%, P 100 par value have not been
declared or paid for 3 years.
 Treasury shares were acquired at a cost of P 1,500,000. The treasury shares had not been
reissued at year-end.
What amount of retained earnings should be appropriated?
a. P 1,500,000 b. P 1,800,000 c. P 300,000 d. P 0

65. PAOAY reported the following shareholder’s equity at year-end:

6% non-cumulative preference share capital, P 100 par, liquidation value of P 105 per share – P
1,000,000; Ordinary share capital, P 100 par – P 3,000,000; Retained Earnings – P 950,000.
Preference dividends have been paid up to December 31, 2016. What is the book value per ordinary
share?
a. P 131.70 b. P 130.00 c. P 129.70 d. P 128.00

66. Using the same information in no. 65, what is the book value per preference share?
a. P 100.00 b. P 105.00 c. P 111.00 d. P 106.00

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67. NCR had 50,000 ordinary shares of P 100 par value and 25,000 preference shares of P 100 par
value, 6% cumulative and participating. Dividends on the preference shares are two years in
arrears including the current year. The entity distributed P 1,350,000 as dividends in the current
year?
a. P 1,050,000 b. P 1,200,000 c. P 550,000 d. P 800,000

68. On December 31, 2015 and 2016, PATEROS had 30,000 P 100 par value 5% cumulative preference
shares outstanding. No dividends were in arrears on December 31, 2014. The entity did not declare
a dividend during 2015. During 2016, the entity paid a cash dividend of P 100,000 on the
preference shares. How is the preference dividend in arrears reported in 2016?
a. Disclosure of P 200,000.
b. Disclosure of P 150,000.
c. Accrued liability of P 200,000.
d. Accrued liability of P 150,000.

69. STA. ROSA had 700,000 ordinary shares authorized and 300,000 shares outstanding on January 1,
2016.
Jan 31 Declared 10% stock dividends
June 30 Purchased 100,000 shares
Aug 1 Reissued 50,000 shares
Nov 29 Declared 2-for-1 stock split
At year-end, how many ordinary shares are outstanding?
a. 600,000 sh b. 630,000 sh c. 560,000 sh d. 660,000 sh

70. RNMP provided the following data at year-end:

Authorized share capital 5,000,000
Unissued share capital 2,000,000
Subscribed share capital 1,000,000
Subscription receivable 400,000
Share premium 500,000
Retained earnings unappropriated 600,000
Retained earnings appropriated 300,000
Revaluation surplus 200,000
Treasury shares, at cost 100,000
What total amount should be reported as shareholder’s equity?
a. P 4,800,000 b. P 4,900,000 c. P 5,100,000 d. P 5,500,000

 Nothing Follows 

“Pray as if everything depends on GOD.

Study as if everything depends on YOU.”

“Eyes on the Prize and you will be Fine.”

“When you are the anvil, bear,

When you are the hammer, strike.”

“To the man who himself strives earnestly,

GOD also lends a helping hand.”

“Keep moving forward.”

“Dream is what get you started.

Discipline is what keeps you going.”

rnmp 04/20/17

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