Which One of the Following Statements Is Not True of the AICPA

question 34

Multiple Choice

Which one of the following statements is not true of the AICPA?

• A) It is public accounting's national professional organization.
• B) Membership is mandatory for all CPA firms who practice in more than one state.
• C) It operates through a number of divisions.
• D) Its publications include the Journal of Accountancy.
• E) It provides a broad range of services to members.

---

Definitions:

Expected Value

The long-term average or mean of random variables, representing the central tendency.

Perfect Information

A condition in decision theory and economics where all participants have full and identical knowledge about the actions others can take.

Power Company

A corporation that generates, transmits, and distributes electricity to consumers and businesses.

Expected Payoff

In decision theory and economics, the weighted average of all possible outcomes of a decision, where each outcome is weighted by its respective probability of occurrence.