If a Junior Staff Member on an Audit Team Wishes

question 12

Multiple Choice

If a junior staff member on an audit team wishes to accept employment in a junior staff accounting role at the audit client,she:

• A) Does not have to wait at all
• B) Has to wait at least one year if the audit client is a publicly traded company
• C) Has to wait at least one year if the audit client is either a publicly traded company or a privately held company
• D) Has to wait at least one year if her new position likely will require her to interact with colleagues with whom she worked at her former employer

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Definitions:

Financing Statement

A legal document filed under the Uniform Commercial Code (UCC) that secures a creditor's interest in the debtor's collateral, making the security interest public record.

Implied Notice

A legal concept that suggests an individual should have known a fact due to circumstances or the fact it was obvious, even if not formally notified.

Real Estate

Real estate comprising land, the edifices built upon that land, plus the natural resources belonging to it.

Widgets

are generic terms often used to describe any product or manufactured good in business discussions or economic examples.