Section 11Sec./Art. 11

Book of Accounts. The grantee shall keep a separate account of the gross receipts of the telecommunications businesses transacted by it in each of the municipalities of the various provinces and shall furnish the Commission on Audit and the National Telecommunications Commission a copy of such account not later than the thirty-first (31st) day of July of each year for the preceding twelve (12) months.

The books and accounts of the grantee shall always be open for inspection by the Commission on Audit or its authorized representatives, and it shall be the duty of the grantee to submit to the Commission on Audit quarterly reports in duplicate showing the gross receipts and the net receipts for the quarter past and the general condition of the business.