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AICPA Ethics Final Exam With 100% Correct And Verified Answers
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AICPA Ethics Final Exam With 100% Correct And Verified Answers
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AICPA Ethics Final Exam With 100%Correct And Verified Answers
Generally, ethical dilemmas are not routine. Therefore,
there is no way that an individual can be prepared or
informed for a problem ahead of time. - Correct Answer-
False, It is important that you do your homework and
understand how to protect yourself and your employer. This
will give you a "head's up" when you face potential ethical
dilemmas
PCAOB set auditing, quality control, ethics, independence
and other standards relating to the preparation of audit
reports. - Correct Answer-False, Only for Issuers
The AICPA bylaws require that members adhere to the
rules in the Code. - Correct Answer-True
The American Institute of Certified Public Accountants has
been the primary ethical rules for internal auditors. -
Correct Answer-False
Members employed by others to prepare financial
statements or to perform auditing must adhere to the
objectivity and independence principle in the AICPA Code
of Conduct - Correct Answer-False, They are charged with
the same responsibility for objectivity as members in public
practice
Vendarsol
,The AICPA Code of Professional Conduct derives its
authority from specific federal legislation. - Correct Answer-
False, The AICPA Code of Professional Conduct derives its
authority from the Bylaws of the AICPA.
An ethical dilemma is defined as a situation where two or
more "right" values are in conflict - Correct Answer-true
Members would be violating the Integrity principle if they
have inadvertent errors and have honest differences of
opinion while performing their duties. - Correct Answer-
False, Integrity can accommodate the inadvertent error and
honest difference of opinion; it cannot accommodate deceit
or subordination of principles.
AICPA Interpretations limit the scope and application of the
rules. - Correct Answer-False, The interpretations of the
rules of conduct provide guidelines about the scope and
application of the rules but are not intended to limit such
scope or application
The AICPA Code of Professional Conduct provides practical
guidance to only members in public practice - Correct
Answer-False, The AICPA Code provides practice guidance
for all members.
Under the Rules of Professional Conduct promulgated under
the Texas Public Accountancy Act, all of the rules of
professional conduct shall apply to and must be observed by
a certificate or registration holder engaged in the client
practice of public accountancy. - Correct Answer-True,
Vendarsol
, Correct under Rule 501.53(a), Applicability of Rules of
Professional Conduct.
Integrity as defined in the AICPA Code of
Conduct is an element of character
fundamental to professional recognition -
Correct Answer-True
The characteristics common to all profession
include existence of a complex body of
knowledge and acknowledgement of a
responsibility to serve the client. - Correct
Answer-False, responsibility to serve the
public
Membership in the AICPA is voluntary, but by
accepting membership, a CPA assumes an
obligation of self-discipline and agrees to
adhere to the Code. - Correct Answer-True
The AICPA Code of Professional Conduct
begins with a preface that applies to all
members. - Correct Answer-True
The Responsibilities principle of the AICPA
Code of Conduct requires that service and
public trust not be subordinated to personal
gain and advantage. - Correct Answer-False,
This is integrity
Vendarsol
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