Which of the Following Is Not a Characteristic of a Small

question 82

Multiple Choice

Which of the following is not a characteristic of a small local CPA firm?

• A) Most small firms have fewer than 25 professionals.
• B) Small firms perform audits on small and not-for-profit businesses.
• C) Tax services are more important than auditing services to the small firm.
• D) Small firms are prohibited by the SEC from auditing publicly traded companies.

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Definitions:

Physiological Need

A basic biological requirement for human survival, such as food, water, and sleep, which must be satisfied to maintain health.

Extracellular Thirst

Thirst caused by a reduction in the volume of fluids found outside of the body cells, often due to blood loss or dehydration.

Intracellular Thirst

A type of thirst caused by the decrease in the volume of fluid inside cells, typically as a result of high salt intake or other factors affecting cellular water.

Physiological Needs

The basic, fundamental needs of humans necessary for survival, such as food, water, shelter, and sleep, as described by Maslow's hierarchy of needs.