A CPA Provides Services to Two Clients in the Same

question 30

Multiple Choice

A CPA provides services to two clients in the same industry.Both clients have been informed of this fact and have acknowledged their approval in writing.As a result:

• A) The CPA nonetheless is violating professional standards concerning conflicts of interest
• B) The duty of confidentiality has been waived and does not apply to the two accountant-client relationships mentioned
• C) Must be careful to not share specific information learned from one client with the other client
• D) Must be careful to not utilize general industry experience gained from serving one client to benefit the other client

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Definitions:

ANOVA

Stands for Analysis of Variance, a statistical method used to compare means among three or more groups to see if there is a significant difference.

Interaction

A phenomenon in statistics and research design where the effect of two or more variables on an outcome is not simply additive but depends on combinations of variables.

Sum of Squares

A statistical measure used to describe the dispersion or variation within a set of values, calculated by squaring the differences from the mean and summing them up.

Error

In statistics, this refers to the difference between a measured or observed value and the true value; it can be due to measurement inaccuracy or variability in the data.