Which of the Following Intervenes and Overrides Professional Codes of Ethics

question 1

Multiple Choice

Which of the following intervenes and overrides professional codes of ethics only when necessary to protect public health,safety,and welfare?

• A)law
• B)supervisor
• C)client
• D)philosophy

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Definitions:

Recognition

The process of formally recording or incorporating an item into the financial statements of an entity.

Incurred Expense

An expense that has been recognized in the accounting period in which it is incurred, regardless of when the payment is made.

Total Liabilities

The sum of all financial debts or obligations a company owes, shown on the balance sheet.

Expense Account

An account where business-related expenses are recorded, often used for tracking purposes for budgeting or tax deductions.