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ACCT 4553 AICPA Ethics Final Exam Questions With 100% Correct And Verified Answers
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ACCT 4553 AICPA Ethics Final Exam Questions With 100% Correct And Verified Answers
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ACCT 4553 AICPA Ethics Final ExamQuestions With 100% Correct And Verified
Answers
Which step in the decision-making model is characterized by
putting yourself in the shoes of a person that the company's
policies could impact - Correct Answer-- Consider the effect
on Stakeholders
Which step in the decision-making model is characterized by
asking the question, "if you had to discuss your decision in
public, would you be concerned about how it reflects on your
ethics? - Correct Answer-- Consider your comfort level
CPAs must follow the rules and standards promulgated by
which body? (Hint: Whose rules would a CPA be especially
motivated to follow?) - Correct Answer-- Your State CPA
licensing board
Who establishes rules with respect to auditing and other
attestation engagements, quality control of audits, and
independence of public auditors? - Correct Answer--
PCAOB
If each entity tells you, a publicly traded company, a
different set of independence rules, who do you follow first?
- Correct Answer-- The most restrictive requirements
As a professional CPA, I have the greatest responsibility to
serve: - Correct Answer-- The publics' interest
Vendarsol
, Which of the following is a specific rule of integrity and
objectivity? - Correct Answer-- Be free from conflicts and
interest
I also must maintain my objectivity, be free of conflicts of
interest, and discharge all my responsibilities with due -
Correct Answer-Care
As a CPA, I should especially maintain ______ and _______
when carrying out public duties as it relates to conflicts of
interest - Correct Answer-- Independence, Objectivity
Which of the following is not a member of "private
accounting"? - Correct Answer-- External Audit
Which factor must be in place for you to perform services in
light of a potential conflict of interest? - Correct Answer--
You have determined that your threats to objectivity are at
an acceptable level
What approach must AICPA members use to evaluate a
matter that the code does not address? - Correct Answer--
Threats and Safeguards
The threat that you will not act with objectivity because your
interests are opposed to your clients describes which of the
following? - Correct Answer-- Adverse interest threat
Which of the following is not a possible threat related to gifts
and entertainment? - Correct Answer-- Favoritism
Vendarsol
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