Which One of the Following Is Not True Regarding the American

question 101

Multiple Choice

Which one of the following is not true regarding the American Institute of Certified Public Accountants peer review requirement?

• A) A CPA firm must develop and adhere to quality control standards.
• B) Peer reviews are mandatory.
• C) A CPA firm will lose AICPA eligibility if a peer review is not performed.
• D) Firms required to be registered with and inspected by the PCAOB are exempt.

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Definitions:

CCD

Stands for Charge-Coupled Device, a type of image sensor used in digital cameras and other imaging devices to capture light and convert it into digital data.

Codec

A rule, implemented in either software or hardware, which squeezes a given amount of audio and video information into less space.

Codec

A computer program capable of encoding or decoding a digital data stream or signal, often used for compressing audio or video data.

Model Release

A release that usually grants a photographer the right to use an image of the model (or subject of the photo) commercially.