Chapter 2 The CPA Profession. Exam Questions and answers. 100% Acurate.
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Course
CPA
Institution
CPA
Chapter 2 The CPA Profession. Exam Questions and answers. 100% Acurate.
1) The form that must be completed and filed with the Securities and Exchange Commission whenever a company experiences a significant event that is of interest to public investors is the: - -B) Form 8-K.
2) The form tha...
Chapter 2 The CPA Profession. Exam
Questions and answers. 100% Acurate.
1) The form that must be completed and filed with the Securities and Exchange Commission whenever a
company experiences a significant event that is of interest to public investors is the: - ✔✔-B) Form 8-K.
2) The form that must be filed with the Securities and Exchange Commission whenever a company plans
to issue new securities to the public is the: - ✔✔-A) Form S-1.
3) The AICPA has authority to establish standards and rules in all but which of the following areas? - ✔✔-
D) Auditing standards applicable to financial statements of private and public companies
5) The difference between the Securities Act of 1933 and the Securities Act of 1934 is that only the 1934
act requires audited financial statements. - ✔✔-B) False
6) Form 10-K must be filed with the SEC whenever a public company experiences a significant event. -
✔✔-B) False
7) The overall purpose of the Securities and Exchange Commission is to assist in providing investors with
reliable information upon which to make investment decisions. - ✔✔-A) True
1) Statements on Standards for Accounting and Review Services are issued by the: - ✔✔-A) Accounting
and Review Services Committee.
2) What are the major functions of the AICPA? - ✔✔-Answer: Major functions of the AICPA include:
• Establishing standards and rules that practicing CPAs must follow. These standards consist of auditing
standards for auditors of private companies, compilation and review standards, other attestation
standards, and the Code of Professional Conduct.
• Research and publication on many different subjects related to accounting, auditing, attestation and
assurance services, management consulting services, and taxes. AICPA publications include the Journal
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