A CPA Can Accept a Gift from a Client as Long

question 71

Multiple Choice

A CPA can accept a gift from a client as long as:

• A) Adequate safeguards exist to prevent any threats to compliance with the Integrity and Objectivity rule
• B) Adequate internal controls exist in the client entity to ensure gifts are made without any pre-conditions
• C) The amount is below what is considered to be a material payment
• D) Audit services are not provided to the client

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Definitions:

Extraversion

A personality trait characterized by outgoingness, high energy, and sociability, contrasting with introversion.

Conscientiousness

A personality trait characterized by diligence, carefulness, thoroughness, self-discipline, and the desire to do a task well.

Agreeableness

A personality trait characterized by compassion, cooperation, and a desire for social harmony.

Neuroticism

A personality trait characterized by a tendency to experience negative emotions such as anxiety, anger, or depression more frequently and intensely than others.