For Each of the Following Situations,state Which Element of the Profession

question 55

Essay

For each of the following situations,state which element of the profession or society encourages the public accountant to conduct himself at a high level.A)Marco attended a seminar on the topic of business combinations to ensure he was up to date with the new standard.
B)Barbara referred to the standard on hedging to ensure that her client had the appropriate documentation to qualify for hedge accounting.
C)Gretchen refused to perform the audit of her uncle's restaurant chain.
D)Walid worked overtime all week to ensure that the file was properly documented and met the quality control requirements.
E)Sarah took the summer off to study for the Common Final Examination (CFE)to ensure that she would pass the entrance exam to become a Chartered Professional Accountant.

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Definitions:

Community

In primatology, a unit of primate social organization composed of fifty or more individuals who collectively inhabit a large geographical area.

Work

An activity involving mental or physical effort done to achieve a purpose or result, often associated with earning a livelihood in the context of employment.

Mode of Subsistence

The method by which a society acquires its food and economic resources, which can range from hunting and gathering to agriculture or industrial production.

Hunting

The pursuit and capturing or killing of wildlife or feral animals, primarily done for food, sport, or trade.