“Cluster Analysis on CPALE Performances of Selected Schools in Cebu and Profile of

Higher Education Institutions”

Mitch C. Delos Reyes, Jenika B. Del Castillo, Mary Anne T. Abellana, Maureen Rae R. Friolo,
Timothy John S. Esperanza

College of Commerce
University of San Jose - Recoletos

ABSTRACT

This study is conducted to determine the ability of selected schools in Cebu to produce board
passers, based on different variables present under the schools circumstantial evidences, on
the CPA licensure exams taken by their BSA graduate. The research method used is mostly
quantitative in nature which means tables and graphs are used to illustrate the analysis. The
research would also utilize the cluster analysis method in which the different schools are being
clustered according to different variables to assess their ability to produce board passers. The
researchers selected the ten major accountancy schools within Cebu City. All data were taken
from a four year analysis from PRC and four year analysis from the Commission on Higher
Education. The researchers utilized simple average method to get the analysis from the two
sources. The data from PRC is crossed with the initial hypothesis of the researchers. From
thereon, the researchers established the research methodology to classifying the different
schools into clusters that will determine their characteristic based upon the given variables to
increase or test the probability of passing the CPA licensure examination.

Keywords: Clusters, CPA licensure exam, Schools, Variables,

I. INTRODUCTION

In the Philippines, many students aspire to become accountants; they try to achieve this
goal by entering into schools that offer accountancy programs. However it is not just entering
and graduating from the accountancy program that makes up an accountant, one has to pass
the Certified Public Accountant licensure examination. Passing the CPA licensure exam is a
manifestation of one's hardwork and dedication but having a batch of Accountancy graduate
passers, is a manifestation of different variables that are at play within a certain accountancy
school. The performance of the graduates in licensure examination is a positive measure of the
quality and standard of education a particular school provides. A source of prestige of an
educational institution is the quality of its graduates. It is an indicator of the kind of educational
training and learning they were provided by their school (Basaen, Bejar & Bambao, 2005).
Schools play a major part in preparing their students for the ultimate examination - an
examination that will conclude years of struggles and hardships. Schools are affected by the
different variables that are at play that will determine their ability to help their BSA graduates
pass the CPA licensure exam. It is the goal of this study to have a deeper understanding of

1
those different variables that are currently manifested in different accountancy schools here in
Cebu City. Analysis of these different variables will provide a more conclusive evidence of a
Higher education’s ability to produce CPA licensure exam passers. This study is about
classifying the different schools into clusters that will determine their characteristic based upon
the given variables to increase or test the probability of passing the CPA licensure examination.

The researchers came up with six variables or indicators that exist among the ten
selected accountancy schools within Cebu. These variables are nonlinear, which means they
are equally independent from each other. The variables that researchers try to test as the
schools characteristics are (a)Passing percentage, (b)Faculty-student ratio, (c)Retaker
statistics, (d)Enrollee statistics, (e)Accreditation level and (f)Tuition fee. Basean et al. (2005)
corroborates that the passing rate is a key factor measuring the kind of students and quality of
instruction the faculty provided. It is also an indicator of the kind of faculty and teaching
competency that prevails in a school. Moreover, the performance of the graduates reveals to a
certain extent how well equipped they are which could also be attributed to the instructional
materials provided by the school (Bekir Celik, 2014). Effectiveness of teachers in teaching their
classes is a very important indicator of schools competency and quality. Student-teacher ratio is
the most important school related factor in increasing students’ performance and success
(Miles, 2011). Number of students per teacher is generally associated with class size and it is
mainly believed that smaller classes provide a better teaching and learning. This belief has been
shared by many countries like the USA, European countries, China, Japan, and many other
countries and they made policies to reduce their class sizes (Blatchford & Lai, 2012). In schools
with smaller student teacher ratio, teachers can have more time to spend with each student and
check the progress of every student they are responsible and can provide a more individualized
teaching that is more suitable to each student, increasing the chances of improving academic
performance (Johnson, 2011). On to the retaking statistics, the practice of retaking can be
traced back to the late 1960s. Beginning in the late 1960s, the growing popularity of teaching
practices such as mastery learning and personalized systems of instruction led to a number of
studies on the effects of students retaking versions of previous tests in order to demonstrate an
increased mastery of the content (Juhler, et al. 1998; Catanzano & Wilson, 1977). Davidson
further, (1984) studied college students in introductory psychology courses, and found that 48%
of students who scored an “F” on an original midterm exam were able to raise their exam score
by a letter grade on a retest, along with increases by 52% of students originally earning a “D”
and 57% of students earning a “C” on their original exams. Retaking exams could do a positive
impact to students by giving them more retention and mastery on the exam taken. Retaking
statistics could be a viable reason to measure an accountancy schools passing percentage and
quality of education. Corroboration by Caamal Canul (Re: Learning from Accreditation, 2017)
states that it is clear that accreditation makes a difference in helping schools improve. The
external review is particularly helpful in allowing schools to see themselves through a “different
set of eyes.” Through both the Standards Assessment Report and Quality Assurance Review
processes a school is guided to focus on both its areas of strength and weakness, enabling the
school to set clear, targeted, measurable improvement goals that become not just the basis for
maintaining accreditation but that become in themselves a continuous improvement process.
This could mean that the higher the accreditation level, the more improved the quality of
education a certain school has. Moreover, according to Rivera-Batiz and Marti in 1995 through a

2
study of New York City’s public schools, the study was inspired by the growth in student
populations in NYC during the 1980’s and 1990’s. The rapid growth on enrollees caused many
public schools to change their academic policy and schools structures. During their study they
found that the effects of changing enrollee number from year to year has a positive effect on the
performance of the schools to teach quality education to the student but had negative impact on
the long run as the school can't keep up the rapid growth. These results showed that students
performed better as the population increases, than in schools that were only stagnant. These
results were somewhat anticipated by the researchers as they identified issues with reverse
causality in their study, an integral part of understanding the connection between increasing
student performance that has reversal effect in the later run. Another variable that has an impact
to the school’s quality of teaching is their tuition fees. It would be a good measure to know the
direct effect of the schools tuition fee towards their ability to produce CPA licensure exam
passers. These variables have linear effect that is directed towards improving academic
performance or in the case of this study, passing the CPA licensure exam. The effects of these
variables are vital factors that will test each accountancy schools competency to produce CPA
licensure exam passers. On the other hand, these indicators will also help the researchers
analyze the clustering effect of the variables that will determine the schools characteristics,
relative to its ability to create remarkable passing percentages.

Although many researchers support the idea of those variables having good impact on
the academic performance of the students, there is still a glaring problem that all accountancy
schools faces - there are still students who are not able to pass the CPA licensure exam.
Passing the said exam is never assured, that is the reason why those variables exist in the very
first place. To give each schools the capability to increase the chances of their students to pass
the CPA licensure exam. Each year thousands of candidates sit for the CPA licensure
examination in the Philippines. The passing statistics is only about 20 percent of first-time
candidates (Bala, 2008). According to Abrugar (2009) many critics say that it is one of the most
difficult professional board examinations in the country. The difficulty of passing the CPA board
examination is reflected in the relatively low passing rates both in local and national levels. The
chances of passing the CPA licensure exam is always uncertain, it is always up to the takers
individual effort and the efforts exerted by the schools that makes the difference. With 38%
percent overall passing rate for first timers in the past four CPA licensure examination it is
notable that this licensure exam is one of the hardest (Professional Regulations Commission,
2017). However there are factors that can also be predictors of a criterion and may be utilized to
partly explain the condescending effect of these circumstances. This means that even if there
are variables that would try to help the schools improve their quality of teaching, unacc ounted
circumstances can take into action that would make other students fail the CPA licensure exam.
There has been a decline over the past years on the passing rate of the CPALE takers. Del
Mundo and Reforzar (2007) state that a less-than-five percent pass-rate, as determined by the
Board of Accountancy and the Commission on Higher Education, is already a danger signal for
an accountancy school to begin sharpening its accountancy program. Unprecedented and
unpredicted factors could weigh in that might cause the failure of a percentage of takers.
Although, there are schools who have experienced a 100% passing percentage on CPA
licensure examination, It is outweighed by the number of schools that still has failing students.
The variables are the best means to find the reason why students pass the CPA licensure

3
exam. At the same these variables could also be used to analyze why even if the schools exerts
so much efforts on accreditation level, faculty- student ratio and a like, a 100% passing
percentage is never assured.

Schools employ multiple measures to assess students’ learning and evaluate the
education provided. Most of these measures are based on data gathered internally by reporting
institution but in academic programs where external certification or professional examination is
required, institutions include the exam pass rate as a success measure. The accounting
curriculum of most higher education are geared to a more sustainable education and learning
(Castillo, 2017). In the future, the CPA Examination must be designed to assure the knowledge,
ability, and skill of the candidates taking the exam, so that the public will be protected and
accountancy remain a respected profession (King, D. L., et al., 2017). This study will give an
analysis on the different characteristic inherent in the schools that would then be related to the
schools ability to create CPA licensure exam passers. Correlation of the different aspects and
reason from different schools is amplified in further establishments of this s tudy. It would give
the researchers and futures users an idea as to how a certain accountancy school improves its
academic performance through the analysis of the variables present within that school. The
clustering of the schools among the set of variables will also give new lenses to the glaring
problem all accountancy school has. That is the number of students failing from the CPA
licensure examination even if there are already variable used to improve quality of education.
Upon analyzing the schools among clusters of variables, one can draw what makes a certain
school better than the other or what is the measure imposed within that school that makes it
superior among others. With these points of view, schools can assess what kind of measure
they must impose in order to decrease the number of students failing from CPA licensure exam
and at the same time increasing its passing percentage. The school can find reason as to why
there are still students who can’t pass the CPA licensure exam even if there measure set up for
improving their chance of passing. Upon this analysis, the schools can draw conclusions and
solutions on how to address the problem within their school. The clustering analysis of the
schools is further amplified in the establishment of this study.

II. CONCEPTUAL FRAMEWORK

The Philippine Certified Public Accountant Licensure Examinations is currently one of

the most difficult, challenging and enduring professional exams both in terms of coverage and
depth of testing one’ knowledge of technical concepts and application (Lianza, 2016). Schools
try to devise their syllabus and retention policy to achieve standard level of education. However,
graduating from BSA is not a sure pass in the CPA licensure exam that is why there are
variables to improve this uncertainty. According Heider’s theory, man perceives events of critical
importance for the interpretation of human work. Such causes could be traced to factors located
within the person and those that are drawn from the environment of the pers on. The two main
ideas put forward by Heider became influential: This study would only focus on the second trait
of the theory - “When structures try their own behavior they tend to make external attributions,
such as situational or environment”. The researchers considered the variables discussed, as the
situational or environmental effect Heider was referring. Since Different schools experience
different passing rates and levels of success, then different schools has different take on the

4
variables. These variables are the outside or circumstantial factors that determine the schools
characteristic that will in turn determine their capability to produce CPA licensure exam passers.
Basing on the clusters the schools belong, one school could attribute its pass ing percentage to
good faculty student ratio, the other school could attribute its passing percentage to higher
accreditation level and other schools could be a combination of the all the variables working
together within that certain cluster. Heider’s theory emphasizes on the impact of the variables
towards shaping the characteristic a school should have within a given cluster. These clusters
will then be analyzed as to what clusters has the best passing percentage taking into account
all the variables. In further establishing the concept of this study, Shewhart's first postulate of
the theory of prediction states that “All chance systems of causes are not alike in the sense that
they enable us to predict the future in terms of the past.” In relation to this study, this means that
not all actions taken by the school will result to their predicted outcome - which is higher passing
percentage. This theory stated by Shewhart is an outlier to the general idea Heider was trying to
make. Shewhart was lining that even if the schools make actions such as improving its
accreditation level which in turn will improve the quality of education, basing from Heider's
principles, these are all just chance causes and there will always be probability that it will not
happen. Shewhart is manifesting in his postulate that the variables which are expected to help
the schools improve its capability to produce CPA licensure exam passers will always have a
chance of not happening at all. Nonetheless, it is the meat of this study to find out which among
the two theories presented here will be the sole backbone of the ability of the schools to
produce CPA Licensure exam passers.

The inputs used in this research included the four year result of the variables that relates
to the schools passing percentage. Having established the ideas above, this study uses a model
which deals with the ten major schools selected and categorized them to clusters. These
clusters are determined based on the variables relative to the passing percentage each school
within a four year simple average. The process adopted by this research to analyze the trend
over the past four is the simple average method. The CPA licensure examinations takers are
data gathered from the PRC. The data of each school that correlate to different variables are
gathered from different sources, like CHED, PRC, and other literature and from the schools
themselves. With the help of the two theories presented, this study will try to draw its conclusion
as to whose study holds true in relation with the analysis of the clusters each schools belong
bearing the variables that will help them improve their chances at the CPA licensure exam. The
schematic model is presented on the next page.

5
 Figure 1: Conceptual Framework

III. RESEARCH DESIGN

For the purpose of the research, Data from ten (10) schools having different standards in
Accountancy program around Cebu are selected as the premier subjects of this study.

To aim the goal of the analysis, the data used were taken from the website of a government
agency in-charge of professional examinations which is the PRC, from Commission on Higher
Education, and from the school itself. The analysis started from getting the data which are the
average passing rate on each different school for four (4) years, average number of enrollees of
each school for the past years, the number of retakers, faculty student ratio, accreditation level,
and the tuition. They stand as the six (6) variables which will be compared to the passing rates
which measure the performance as the dependent variable. These variables are nonlinear,
which means they are equally independent from each other.

The research method used is mostly quantitative, in which statistical tables and graphs were
utilized as tools in the analysis. With the data gathered at hand, those six (6) variables are used
to measure the data while the cluster analysis was used as research instrument to interpret
those data. This method was used to classify the schools into groups which belong to a certain
characteristics called clusters.

The analysis extended further on plotting the variables according to their collinearity.
Correlations are useful because they can indicate a predictive relationship. This was done to
know if they are independent to each other and that coefficient estimates of the multiple
regressions may not change erratically in response to small changes in the model or the data. It
is evident that the variables are uncorrelated using the Principal component analysis (PCA). It is

6
a statistical procedure that uses an orthogonal transformation to convert a set of observations of
possibly correlated variables into a set of values of linearly uncorrelated variables
called principal components.

Further, dendogram was conducted to observe what schools have same relationship
according to each characteristic. A dendrogram is a diagram that shows the hierarchical
relationship between objects. It is most commonly created as an output from hierarchical
clustering. The main use of it is to work out the best way to allocate objects to clusters. That
made them belongs to different cluster. Researchers chose an overall three (3) clusters for
show characteristics that represent being good, worst, and neutral. The key to interpreting a
dendrogram is to focus on the height at which any two objects are joined together.

Given that, analyses on the results arise. Since the selected schools are being clustered,
they are being compared to other cluster using the six variables. It was decided that the passing
rate will measure the performance and as defined as the dependent variable hence; it will be
compared to the five (5) independent variables. Now, results can be formulated, and will be
discussed further below.

IV.Results and Discussions

An analysis of the on-hand data is conducted to arrive on the desired outcome. Results
were subsequently obtained through these data. Because of the limitations of the information
given by the source, the variables were being identified from the past years starting 2014 to
2018, and were computed using simple average method. Summary of data gathered are
presented below.

Table 1: Summary of Data

Faculty- Accreditation
Passing
SCHOOLS Student Retakers Enrollees Tuition
percentage level
Ratio
Cebu Institute of
Technology- 2.586 16.5 153 40.883 2 30,000
University
Lyceum of Cebu 8.125 6.5 95 27.029 0 14,000
Southwestern University 4.159 3.75 49.5 35.536 2 32,500
University of Cebu 2.161 36.5 276 43.791 2 21,500
University of Cebu-Banilad 3.622 18.75 239 46.623 1 21,500
University of Cebu-Lapulapu
and Mandaue 2.485 13 162.5 41.671 2 21,500
University of San Carlos 4.922 14.75 788 77.481 2 37,500
University of San Jose-
4.080 53 686 49.236 3 32,500
Recoletos
University of Southern
Philippines Foundation 4.659 12.75 183 27.697 3 22,500
University of the Visayas 2.194 10.75 34 28.606 1 17,500

7
 There are many indicators affecting the performance of the schools. However in this
study, researchers came up with six (6) variables that might have the strongest impact of the
performance of the school on the CPALE.

Figure 2: Plot of the Variables

Based on the above, one can say that each variable are independent to each other.
Obviously, the number of enrollees and the passing percentage almost collide to each other.
This means that the trends from each variable are almost but not directly related. As shown in
the table 1, the highest number of enrollees with the highest passing rate is the University San
Carlos, along with University of San Jose Recoletos who has second highest of enrollees and
passing rate; on the other hand, the smallest number of enrollees yet it is not the lowest in terms
of passing rate is University of the Visayas.

This is what the opposite in statistics called multi-noncollinearity. Multi-noncollinearity

involves more than two variables. It refers to a situation in which two or more explanatory
variables in a multiple regression model are not highly linearly related. It is a phenomenon in
which one predictor variable in a multiple regression model cannot be linearly predicted from the
others with a substantial degree of accuracy. In this situation the coefficient estimates of the
multiple regressions may not change erratically in response to small changes in the model or
the data.

The linear combinations are chosen so that the first combination has the largest possible
variance, the second combination has the next largest variance, subject to being uncorrelated
with the first, the third has the largest possible variance, subject to being uncorrelated with the
first and second, and so forth.

8
 Figure 3: Similarity of the Variables

In the dendrogram above, the height of the dendrogram indicates the order in which the
clusters were joined. The researchers chose to group the schools which have the same
characteristics into three (3) clusters. These characteristics are mandated or driven by the six
variables that are present among the schools. As seen in the figure 3, the rule is that same
colors same group. Thus, school number 1, 3, 8, and 7 belongs to cluster one (1). Further,
school number 2 and 10 belong to cluster two (2). Finally, school number 4, 5, 6, and 9 are
cluster three (3.)

For Cluster Observations, distance refers to the distance between observations, and
linkage refers to the distance between the clusters of observations. For Cluster Variables,
distance refers to the distance between variables, and linkage refers to the distance between
the clusters of variables. The heights reflect the distance between the clusters as is shown
above. In this case, the dendrogram shows us that the big difference between clusters is
between those belong to cluster one, two and three as mentioned above.

Table 2: Cluster Centroids

Grand
Variable Cluster1 Cluster2 Cluster3 centroid
Schools 4.8 6.0 6.0 5.5
F-S Ratio 3.9 5.2 3.2 3.9
Retakers 22.0 8.6 20.3 18.6
Enrollees 362.6 64.5 215.1 244.0
Passing percentage 50.8 27.8 39.9 41.9
Accreditation level 2.3 0.5 2.0 1.8
Tuition 33125.0 15750.0 21750.0 25100.0

9
 As shown in the table above, Cluster one shows the highest passing percentage
although it has the highest numbers of retakers as well. From this, it can also be deducted that
the schools belonging to cluster one has the highest average amount of tuition fee. The rest of
its variables are just average compared to the two other clusters. These schools are Cebu
Institute of Technology University, Southwestern University, University of San Carlos, and
University of San Jose-Recoletos. This is true when out of the board takers, they have more
passers than failures.

It is very evident from Table 2 that the cluster one (1) started as the best performer in
CPA licensure exam for having highest passing rate, tuition fee and number of retakers among
other clusters. Also, with the highest number of enrollees and accreditation level yet with the
highest number of retakers, but has an average in terms of Faculty student ratio. Compared to
Cluster two (2) on the other hand, which only rank 3rd in performance and with the lowest
number of enrollees, and accreditation level as well as tuition fees but with the highest Faculty
student ratio. On the other hand, Cluster 3 shows the average rank in passing rate among the
clusters, also with average retakers and number of enrollees as well as accreditation level but
with the poorest Faculty student ratio. Further analysis would give an idea that Accreditation
level, tuition paid, number of retakers and number of enrollees are the main contributors to the
schools ability towards producing CPA licensure exam passers. This analysis is further
highlighted by the results in cluster two which showed the lowest numbers of those variables
and produced the lowest number of licensure passers. The variable faculty-students ratio
proves to be an outlier and implies that the performance of the school in CPA licensure exam is
not affected by this variable. Rather, as the purpose of this study is to determine the ability of
the school to produce CPA board passers based on variables presented, researchers found out
based on the data gathered and tests, that among the five independent variables, the number of
enrollees, accreditation level, tuition, number of retakers are factors that affects the ability of the
school to produced CPA board passers.

V. Conclusion

The characteristics that proved to have been a major contributor towards cluster one’s
ability to produce the highest passing percentage are Accreditation level, tuition paid, number of
retakers and number of enrollees. The schools proved to share the sam e characteristics by
being part of cluster one are the following: Cebu Institute of Technology University,
Southwestern University, University of San Carlos, and University of San Jose-Recoletos. As a
student who aspires success in the field of accountancy, one can choose the school with a good
quality of education. The said variables have proven to be a good measure to know the ability of
the schools to produce CPA licensure exam passers. Based from this research, the Accreditors
or accrediting bodies who bestowed those accreditation level, uses an elaborate method and
criteria to know that the schools continues to improve its quality of education. The tuition fees
imposed by the schools as well proves their ability to create CPA licensure exam passers. The
schools within cluster one has the four highest tuition fees among the ten accountancy schools
in Cebu. From this, it could be deducted that the higher the tuition fee and the higher the
accreditation level, the higher the probability of passing the CPA licensure exam. Although this
is not the only variable that must be considered. Cluster one also shows that it has good

10
educational program for its retakers/repeaters. These schools show that its ratakers program
are being focused on and are given importance still. The number of enrollees per school is a
good measure of its ability to produce CPA passers. This means that students among these
schools learn a lot from the educational syllabus and programs as well as from their fellow
students. Although, student faculty ratio proves to be an outlier, which means they don’t have
that much impact on the ability of the school to produce CPA licensure exam passers. It must be
noted that a good school/ institution should not under employ their staffs and teachers even if it
does not have that massive impact. This outlier could also mean that the said schools focuses
more on the quality of educational instructions, materials and syllabus rather than the quantity of
teachers employed.

Heider theory is proven by the variables that have a direct impact on the ability of the
school to produce CPA licensure exam passers. These outside and circumstantial variables has
proven that different levels of circumstances like tuition paid, number of retakers, level of
accreditation has a direct impact towards better quality of education. The research has also
proven Shewhart's theory that in every given set of variables and indicators there will always be
an unpredicted event. In this case the faculty student ratio proves to be an outlier or an event
would not make an impact to the quality of education provided by the school. Therefore, for
someone who wants to become a Certified public accountant, one can choose the best by
eyeing the school’s level accredited by PAASCU or PACOCOA. One can see the schools that
produced topnotchers and have highest national passing percentage; or maybe one can believe
that the higher the tuition the higher the quality of education are offered. These variables
measure the ability of the schools to produce board passers. All of these variables have an
impact towards achieving the very goal of being a Certified Public Accountant.

11
References

Accountancy – board exam passing rates (2014-2017) Retrieved from

https://www.prc.gov.ph/uploaded/documents/CPA0515ps.pdf

Faculty- student ratio (2014-2017) Retrieved from

https://ched.gov.ph/wp-content/uploads/2017/09/Private-HEIs-Faculty-Student-
Ratio.pdf

https://ched.gov.ph/wp-content/uploads/2017/09/6-Private-Higher-Education-
Institutions-Faculty-Student-Ratio-AY-2014-15.pdf

Grigg, J. (n.d.). School Enrollment Changes and Student Achievement Growth: A Case Study in
Educational Disruption and Continuity - Jeffrey Grigg, 2012. Retrieved May 23, 2019.

Paff, B. A. (2012). The Effect of Test Retakers on Long-term Retention. Retrieved May 23,
2019.

Bianchi, N. (2015)The Effects of Educational Expansions: Evidence from a Large Enrollment

Increase in STEM Majors. Retrieved May 23, 2019

Shirley, M. (2017). The Effects of Overcrowding on Student Academic Performance in Kentucky

High Schools. Retrieved May 23, 2019.

Wilcox, M. (2003). THE PHILOSOPHY OF SHEWHART'S THEORY OF PREDICTION.

Retrieved May 23, 2019.

Monks, J., & Schmidt, R. M. (2011). The Impact of Class Size on Outcomes in Higher Education
The B.E. Journal of Economic Analysis & Policy, 11(1). doi:10.2202/1935-1682.2803

Dagdag, J. D., Sarmiento, C. S., & Ibale, J. (2017). Examining the Factors of Licensure
Examination for Teachers Performance for Program Strategy Enhancement. Examining
the Factors of Licensure Examination for Teachers Performance for Program Strategy
Enhancement, 5. Retrieved May 22, 2019.

Herrero, C. C. (2015). Influence of selected factors on CPA licensure examination results.

International Letters of Social and Humanistic Sciences, 64, 87-93.

Koc, N., & Celik, B. (2015). The Impact of Number of Students per Teacher on Student
Achievement. Procedia - Social and Behavioral Sciences, 177, 65-70. doi:10.1016/j.s
bspro.2015.02.335M

Chua, P. T. (2018). Factors Contributing to the Success of Palawan State University's CPA
Licensure Examinees - SimplyEducate.Me Factors Influencing CPA Licensure
Examination Performance of Palawan State University Students.

12