What Amount of Continuing Professional Education Would an Auditor, Who

question 37

Multiple Choice

What amount of continuing professional education would an auditor, who is not a CPA but who is engaged in the audit of a City that receives significant amounts of federal financial assistance, be required to complete?

• A) Twenty-four hours every two years.
• B) Forty hours a year.
• C) Eighty hours every two years.
• D) None because the auditor is not a CPA.

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Definitions:

Shares Outstanding

The total number of a company's shares of stock that are owned by shareholders, including those held by institutional investors and restricted shares owned by the company’s officers and insiders.

Stock Split

A corporate action in which a company divides its existing shares into multiple shares to boost the liquidity of the shares, though the total market value remains the same.

Market Price

The rate currently set for the trade of assets or services in the marketplace.

Retained Earnings

The portion of a company's profits that is kept or retained and not paid out as dividends to shareholders.