The Public Has Turned to CPAs to Provide Assurance Services

question 69

Multiple Choice

The public has turned to CPAs to provide assurance services primarily because

• A) The independence and objectivity of CPAs increase the public trust.
• B) There is a need to develop new revenue streams for accounting firms.
• C) Audits do not provide reliable information for decision makers.
• D) CPAs have been proactive in identifying new types of assurance services to market to customers.

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Definitions:

Solitary Time

Periods spent alone, which can be used for reflection, self-discovery, or individual activities without the influence or interruption of others.

Open-Idea Discussions

are conversations or debates that encourage the free flow of thoughts and ideas without immediate judgment or restriction, fostering creativity and innovation.

Hodgkin Disease

A type of lymphoma, which is a cancer originating from lymphocytes, characterized by the presence of Reed-Sternberg cells.

DNA

Deoxyribonucleic acid, a molecule that carries the genetic instructions used in the growth, development, functioning, and reproduction of all known living organisms and many viruses.