During the Course of an Audit, a CPA Discovers an Error

question 38

Multiple Choice

During the course of an audit, a CPA discovers an error in a prior return. According to the Statements on Standards for Tax Services, the CPA should

• A)ask the client for permission to disclose the error to the IRS.
• B)withdraw from the engagement.
• C)inform the IRS of the error, regardless of whether the client grants permission.
• D)correct the error in the current year's tax return.

Understand the concept and utility of descriptive statistics in summarizing data.

Grasp the role and importance of inferential statistics in research.

Identify the influence of sampling and methodological biases on research validity.

Recognize various types of biases and their impact on research outcomes.

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Definitions:

Existential Instantiation

A logical principle that derives the existence of a particular instance of a predicate within a domain of discourse from a general statement.

Universal Instantiation

A logical rule stating that if something is true for everything in a certain set, then it is true for any specific thing in that set.

Universal Instantiation

A logical rule of inference that allows the derivation of a particular instance from a general statement, often used in formal proofs.

Universal Generalization

A logical rule that states if something is true for all members of a class, it is true in general.