Exam (elaborations)
ACCT 4553 AICPA Ethics Final Exam Questions With 100% Correct And Verified Answers
- Course
- Institution
ACCT 4553 AICPA Ethics Final Exam Questions With 100% Correct And Verified Answers
[Show more]
Content preview
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
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Vendarsol. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $17.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
67474 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now