According to the Ethical Standards of the Profession,which of the Following

question 59

Multiple Choice

According to the ethical standards of the profession,which of the following acts is generally prohibited?

• A) Issuing a modified report explaining a failure to follow a governmental regulatory agency's standards when conducting an attest service for a client.
• B) Revealing confidential client information during a quality review of a professional practice by a team from the state CPA society.
• C) Accepting a contingent fee for representing a client in an examination of the client's federal tax return by an IRS agent.
• D) Retaining client records after an engagement is terminated prior to completion when the client demands their return.

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Definitions:

Export

The act of selling goods or services produced in one country to another country.

Opportunity Cost

Represents the value of the best alternative that is forgone when a decision is made.

Unit(s)

The fundamental measurement or quantity of a good, service, or economic variable used as a standard or baseline for transactions, assessments, or calculations.

Toys

Objects designed for play or amusement, often targeted towards children.