Which of the Following Would Be Permitted by the AICPA

question 47

Multiple Choice

Which of the following would be permitted by the AICPA?

• A) John Smith, CPA owns 50 percent of the firm and Joan Jones, non-CPA, owns 50 percent.
• B) Non-CPAs own 25 percent of the firm. The non-CPAs do not have a college degree.
• C) Non-CPAs own 40 percent of the firm and follow all AICPA requirements.
• D) Fred Smith, a non-CPA, owns 10 percent of the firm and has a full-time job separate from the firm and views the ownership purely as an investment.

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Definitions:

Crime

An act or omission that is prohibited by law and can result in punishment upon conviction.

False Imprisonment

Refers to the unlawful restraint of a person against their will by someone without legal authority or justification.

Battery

A criminal offense involving the unlawful physical act or force applied to another person, resulting in harmful or offensive contact.

Intentionally

The act of doing something deliberately or on purpose, not by accident or unintentionally.