An Alternative Practice Structure Can Best Be Described As

question 76

Multiple Choice

An alternative practice structure can best be described as:

• A) A form of ownership where a CPA firm owns a public company and audits that company
• B) A form of structure where a public company provides nonattest services for a client that is also provided with attest services by an affiliate of the public company
• C) A form of structure where a CPA firm provides nonattest services for a client that is also provided with attest services by a public company
• D) A form of structure other than LLP and LLC

---

Definitions:

Unemployed

The condition of being jobless despite actively searching for work within the recent past.

Recession Year

A year during which an economy experiences a downturn and reduced economic activity for two consecutive quarters or more.

Rate of Inflation

The velocity at which the cumulative price level of goods and services elevates, thereby diminishing the purchasing capability.

Cyclical Unemployment

Unemployment caused by the cyclical trends in the economy, typically increasing during recessions and decreasing during periods of economic growth.