For Each of the Following Cases Indicate If the Action $\quad$

question 15

Essay

For each of the following cases indicate if the action by a member CPA is a violation of the AICPA Code of Professional Conduct and cite the relevant rule.
A.Was a trustee of client's profit-sharing trust.
B.Accepted referral fees from local attorneys for nonattest clients with the clients' knowledge.
C.Performed audit in accordance with GASB standards.
D.Advises client to have an insurance review from a local insurance company in which the CPA has a material financial interest.
E.Promoted tax service on local TV station. Inetter $\quad$$\quad$ Relevant Rule $\quad$$\quad$ Violation? (Yes/No)

Analyze the financial disclosure requirements for financial instruments.

Recognize the format and content that define the classification and recognition of assets, liabilities, and equity in the balance sheet.

Evaluate different measurement alternatives for balance sheet elements based on descriptive statements.

Understand the categorization and significance of stockholders' equity changes.

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Definitions:

Net Seller

An entity or individual that sells more of a security, commodity, or currency than they buy over a specified period.

Endowment

Refers to the total resources available to an individual or institution, including talents, wealth, and assets.

Normal Goods

Goods for which demand increases when consumer income rises, and decreases when consumer income falls, showing a direct relationship between income and demand.

Full Income

The total earnings, including all sources of income and gains, not just wages from employment.