An Accountant Who Is Not a CPA

question 7

Multiple Choice

An accountant who is not a CPA:

• A) Will never be considered a fiduciary
• B) Always is considered a fiduciary during the course of providing professional services
• C) Will likely be considered to be a fiduciary during the course of preparing monthly adjusting entries for small, unsophisticated business owners
• D) Will likely be considered to be a fiduciary if the accountant provides financial planning services to clients and sells them sophisticated tax-sheltered insurance policies

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Definitions:

External Secondary Data

External secondary data refers to data that was collected by someone else outside of the organization and is available for businesses to use for research purposes.

External Secondary Data

Information collected by someone other than the user, available from outside sources such as governments, institutions, and organizations.

Economic Census

A comprehensive survey conducted by a government that collects information about the economic activities of businesses and industries within its jurisdiction.

Secondary Data

Data that was collected by someone else for a different purpose, but is being utilized for another research or analysis.