THE CPA LICENSURE EXAMINATION

SYLLABUS 3. E- commerce Act applies to the following,

REGULATORY FRAMEWORK for except:
BUSINESS
a. Electronic document used merely for
TRANSACTIONS
the storage of information
October 2023 Board Examination
b. Electronic data message used in
international dealings
ELECTRONIC COMMERCE ACT c. Electronic data message used in
(2 ITEMS) contracts
d. None of the following
8.7.1 Principles
8.7.3 Definition of terms
1. This Act aims to facilitate domestic and
international dealings, transactions, 4. Refers to information generated, sent,
arrangements agreements, contracts and received or stored by electronic, optical
exchanges and storage of information or similar means
through the utilization of electronic,
optical and similar medium, mode, a. Electronic data message
instrumentality and technology to b. Electronic document
recognize the authenticity and reliability c. Electronic signature
of electronic documents related to such d. Electronic Key
activities and to promote the universal
use of electronic transaction in the 5. Refers to information or the
government and general public. representation of information, data,
figures, symbols or other modes of
a. Ease of Doing Business Act written expression, described or however
b. Philippine Competition Act represented, by which a right is
c. Electronic Commerce Act established or an obligation extinguished,
d. The Law on Contracts or by which a fact may be proved and
affirmed, which is received, recorded,
2. Statement 1: One of the policies of E- transmitted, stored, processed, retrieved
Commerce Act is the primary or produced electronically.
responsibility of the private sector in
contributing investments and services in a. Electronic data message
telecommunications and information b. Electronic document
technology c. Electronic signature
d. Electronic Key
Statement 2: It is the objective of E-
commerce act to promote the universal 6. Refers to any distinctive mark,
use of electronic transaction in the characteristic and/or sound in electronic
government and general public form, representing the identity of a
person and attached to or logically
a. Only Statement 1 is true. associated with the electronic data
b. Only Statement 2 is true. message or electronic document or any
c. Both statements are true. methodology or procedures employed or
d. Both statements are not true. adopted by a person and executed or
adopted by such person with the
8.7.2 Application intention of authenticating or approving

Atty. Ellan Get N. Tingson, CPA Page 1

 an electronic data message or electronic Statement 2: For evidentiary purposes, an
document. electronic document cannot be a
functional equivalent of a written
a. Electronic data message document under existing laws.
b. Electronic document
c. Electronic signature a. Only Statement 1 is true.
d. Electronic Key b. Only Statement 2 is true.
c. Both statements are true.
7. Refers to a person by whom, or on whose d. Both statements are not true.
behalf, the electronic document purports
to have been created, generated and/or 10.Statement 1: Electronic transactions
sent. The term does not include a person made through networking among banks,
acting as an intermediary with respect to or linkages thereof with other entities or
that electronic document. networks, and vice versa, shall be
deemed consummated upon the actual
a. Owner dispensing of cash or the debit of one
b. Originator account
c. Intermediary
d. Service Provider Statement 2: The acceptance of an offer
and such other elements required under
8.7.4 Legal recognition and existing laws for the formation of
communication of electronic data contracts may be expressed in,
messages and electronic documents demonstrated and proved by means of
electronic data messages or electronic
8. Statement 1: Electronic documents shall documents
have the legal effect, validity or
enforceability as any other document or a. Only Statement 1 is true.
legal writing b. Only Statement 2 is true.
c. Both statements are true.
Statement 2: Information shall not be d. Both statements are not true.
denied validity or enforceability solely on
the ground that it is in the form of an 8.7.5 Electronic commerce in carriage of
electronic data message purporting to goods
give rise to such legal effect, or that it is
merely incorporated by reference in that 11.E-commerce act applies to the following
electronic data message. action in connection with, or in pursuance
of, a contract of carriage of goods,
a. Only Statement 1 is true. except:
b. Only Statement 2 is true.
c. Both statements are true. a. Furnishing the marks, number,
d. Both statements are not true. quantity or weight of goods
b. Notifying a person of terms and
9. Statement 1: Where the law requires that conditions of the contract
a document be presented or retained in c. Issuing a receipt for goods
its original form, that requirement is met d. None of the above
by an electronic document if such
electronic document remained complete 12.Statement 1: Where one or more data
and unaltered messages are used in negotiating rights
in goods, no paper document used to

Atty. Ellan Get N. Tingson, CPA Page 2

 effect any such action is valid unless the 15.Statement 1: Government official receipts
use of electronic data message or cannot be issued electronically
electronic document has been terminated
and replaced by the use of paper Statement 2: Governmental functions
documents. may be discharged using electronic data
messages or electronic documents,
Statement 2: Where one or more data through adoption and promulgation of
messages are used to effect the appropriate rules, regulations, or
acquisition or transfer of rights and guidelines.
obligations under the contract, no paper
document used to effect any such action a. Only Statement 1 is true.
is valid unless the use of electronic data b. Only Statement 2 is true.
message or electronic document has c. Both statements are true.
been terminated and replaced by the use d. Both statements are not true.
of paper documents.

a. Only Statement 1 is true.

b. Only Statement 2 is true.
c. Both statements are true.
d. Both statements are not true.

13.Statement 1: The rule of law compulsorily

applicable to a contract of carriage
evidenced by a paper document, shall be
inapplicable to contract of carriage
evidenced by electronic document.

Statement 2: The use of one or more data

messages or electronic documents is
valid, where the law requires that any
action referred to contract of carriage of
goods be carried out in writing.

a. Only Statement 1 is true.

b. Only Statement 2 is true.
c. Both statements are true.
d. Both statements are not true.

8.7.6 Electronic transactions in government

14.The Government can use electronic data

messages or electronic documents in any
of its following transactions, except:

a. Retention of documents
b. Issuance of licenses
c. Payment of fees
d. None of the above

Atty. Ellan Get N. Tingson, CPA Page 3