A CPA Can Accept a Contingent Fee in Providing Tax

question 75

Multiple Choice

A CPA can accept a contingent fee in providing tax services for an attest client if:

• A) The CPA discloses this fact to the tax client
• B) The CPA receives the permission of the client to accept such a form of payment
• C) The CPA's tax services will be reviewed by a taxing authority
• D) All of the above

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Definitions:

Bond

A security reflecting a relatively long-term debt relationship between the issuer (borrower) and the buyer (lender).

Financial Market

A marketplace where buyers and sellers engage in the trade of assets such as stocks, bonds, currencies, and derivatives.

Securities

Financial instruments representing an ownership position, a creditor relationship, or rights to ownership, such as stocks, bonds, and options.

Regulated

Controlled or governed according to rules, typically by a government agency or authority.