Which of the Following Was Used as a 'De Facto

question 3

Multiple Choice

Which of the following was used as a 'de facto' standard for CPAs by state boards of accountancy?

• A)AICPA Code of Professional Conduct.
• B)Investment Advisers Act of 1940.
• C)Statement on Responsibilities in Personal Financial Planning Practice.
• D)Statement on Standards in Personal Financial Planning Services No.1.

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Definitions:

Shortage

A situation in which the demand for a product or service exceeds its supply in a market.

Units

Units refer to the individual, standardized quantities of a product or measurement used for counting, assessment, or comparison.

Government Program

A plan or project undertaken by a government to provide public services, address social issues, or achieve economic objectives.

Subsidy

A grant or financial assistance provided by the government or an organization to support a business, market, or economic sector.