Ethics Require That Clients Are Provided with a Professional Disclosure

question 8

Multiple Choice

Ethics require that clients are provided with a professional disclosure statement which

• A) lays out the treatment plan.
• B) provides the client with her diagnosis.
• C) can be written.
• D) must be read to the client.

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Definitions:

Disclosed Basis of Accounting

The accounting principles and policies a company openly reports in its financial statements.

GAAP

Generally Accepted Accounting Principles, a common set of accounting principles, standards, and procedures that companies must follow when they compile their financial statements in the U.S.

Fair Value

The price at which an asset would be exchanged between knowledgeable, willing parties in an arm's length transaction.

Full IFRS

The complete set of International Financial Reporting Standards that are globally accepted guidelines for preparing financial statements.