• Question 1 Aaron has a successful business with $50,000 of income in – Accounting questions
• Which statement describing this situation is correct under AICPA rules?
• This year Andrews achieved an ROE of 11.2%. Suppose next year the profit margin (Net Income/Sales) decreases.
• If An Individual Asset Is Increased, Then
• Zelada and Smith, CPAs, and their client, Harris Electrical, are discussing a possible advisory engagement
• Weinbrecht & Company, CPAs, has provided annual audit and tax advisory services to Posey Corporation for several years.
• Newville CPA is engaged to perform bookkeeping services for a client. Which activity will impair Newville’s independence?
• A professional accountant is auditing client A and providing consulting services to client B.
• Spencer Jones, CPA, attended his firm’s Christmas party, where a lot of liquor was consumed and a lot of fun was had.
• You are a manager in the quality control group of the firm Merrill & Clement.
• Jeff West, a SemperBarnes tax partner, has provided tax services to two general partners in a real estate partnership for several years.
• In 2012-16, Michal Long worked as a consultant in an actuarial firm.
• Which one of the following situations would lead to an increase in equilibrium price?
• Which of the following would be an unacceptable reason for omitting information on a tax return?
• Timothy Industries engages Thompson & Delozier, CPAs, to prepare its annual financial statements and tax returns.
• Which phrase is used by the Code of Professional Conduct to describe integrity?
• Violating an AICPA or IRS rule may result in which consequence?
• Is Jane’s independence impaired under the AICPA code?
• Which statement about the application of the AICPA independence rules to this situation is correct?
• Under AICPA rules, which statement best describes the period of the professional engagement
• The clientele of Black & Company’s audit practice consists primarily of privately-owned, small- and middle-market companies.
• Which statement best describes the AICPA ethics rules relating to advertising?
• In which situation may you disclose confidential client information without violating the AICPA Code of Professional Conduct?
• The AICPA Ethics Codification includes which sections? (Check all that apply.)
• Department of Labor (DOL) independence rules apply to:
• Sympatico Accountants engages ABC Tax Preparers to prepare routine tax returns during the busy season.
• Which statement is accurate regarding commissions?
• Hossain and Nunes Company, CPAs, decides to subcontract a portion of its tax return preparation work
• George Lem works for the San Antonio Buildings Department as an internal government auditor.
• In which way do DOL independence rules differ from the AICPA rules?
• Burke & Bagnell, CPAs, perform the annual audit for Switzer Foods
• When performing non-attest services for clients, which of these is the member’s responsibility?