Which of the Following Is Not a Principle of the AICPA

question 69

Multiple Choice

Which of the following is not a principle of the AICPA Code of Professional Conduct?

• A) Integrity
• B) Due Care
• C) Internal Controls
• D) Objectivity and Independence

---

Definitions:

First-In, First-Out Method

This is an inventory valuation method where goods first added to inventory are the first ones to be sold.

Equivalent Units

A concept used in cost accounting to assign costs to partially completed goods, expressed in terms of fully completed units.

Conversion Costs

The sum of direct labor and manufacturing overhead expenses involved in turning raw materials into completed goods.

Direct Method

A cash flow statement preparation method that lists major categories of gross cash receipts and payments, directly showing sources and uses of cash.