Practice question
Does the responsible officer’s account include entrusted bonds, securities and other property as well as cash?
- Yes
- No; only coins are covered
- No; securities must never be accounted for
- No; real property is always invisible
- No; the officer may omit every noncash asset
Legal references
- Labor Code Article250[241] current membership safeguards, read with RA9481: https://lawphil.net/statutes/presdecs/pd1974/pd_442a_1974.html Paragraphs(b),(j)–(m).
- RA9481 Sections3,5,7, current cancellation/reporting rules: https://lawphil.net/statutes/repacts/ra2007/ra_9481_2007.html Section7 no automatic cancellation for reporting failure.
Answer this question in flashcards to review your response and continue practicing.