Demonstrating a Commitment to the Profession by Respecting and Maintaining

question 68

Multiple Choice

Demonstrating a commitment to the profession by respecting and maintaining the public trust and serving the public honorably is an example of what type of obligation?

• A) Responsibilities as a professional
• B) Being objective and independent
• C) Maintaining technical and ethical standards through due care
• D) Serving the public interest
• E) Maintaining integrity

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Definitions:

Assets

Resources owned or controlled by a business or an individual that are expected to produce economic value or benefit in the future.

Leasing

Leasing is a financial agreement in which one party, the lessor, allows another party, the lessee, to use an asset for a specified period in exchange for periodic payments.

CCA Tax Shield

CCA Tax Shield refers to the reduction in income tax a business enjoys from being able to deduct the depreciation of tangible property over its useful life, under Canada's Capital Cost Allowance regulations.

Borrow Money

The act of obtaining funds from a lender under the agreement to pay back the principal amount along with interest or fees.