The AICPA Trust Services Principles State That the Customer Need

question 15

True/False

The AICPA Trust Services Principles state that the customer need not be contacted if a business is going to release non-sensitive information about the customer to a third party.

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Definitions:

Equivalent Value

A concept referring to the equality of value between two entities, often used in economics and exchange theories.

Hard Bargaining

A negotiation strategy involving firm stands on demands and little willingness to compromise.

Reciprocity

A principle of mutual exchange in social relations where benefits or services are returned in kind.

Consuming Goods

The act of using up or buying products and services to fulfill human needs or desires.