The AICPA Code of Professional Conduct

question 35

Multiple Choice

The AICPA Code of Professional Conduct:

• A) Makes whistleblowing concerning perceived illegal acts mandatory only if the amounts involved are material to a company
• B) Makes whistleblowing concerning perceived illegal acts mandatory only if the whistleblower is both a CPA and a company employee
• C) Does not make whistleblowing mandatory by CPAs working in industry, but the Integrity and Objectivity Rule expressly encourages it
• D) Tends to discourage it due to the duty of confidentiality

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Definitions:

Nonconforming Use

involves the utilization of land or buildings that does not comply with current zoning laws, but is allowed because the use was established legally before the zoning laws were enacted.

Marketable Title

A property title that is free from disputes, liens, or any legal question, making it readily transferable to a new owner.

Warranty of Habitability

A legal requirement that landlords must provide and maintain livable conditions in rented properties.

Chemicals

Substances used in the production of goods or services, often characterized by their compositions and potential reactions.