Which of the Following Instances Would Impair a CPA's Independence

question 30

Multiple Choice

Which of the following instances would impair a CPA's independence when they have been retained as the auditor?
I. A charitable organization where the CPA serves as treasurer
II. A municipality where the CPA owns $250,000 of the $25 million outstanding bonds
Of the municipality
III. A company that the CPA's investment club owns a 10% investment interest

• A) I and II
• B) I and III
• C) II and III
• D) I, II, and III

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