A CPA Performs Tax Advisory Services,but It Does Not Provide

question 34

Multiple Choice

A CPA performs tax advisory services,but it does not provide tax return preparation services.For this CPA,the most significant conflict of interest that is likely to arise is between:

• A) The AICPA's Code of Professional Conduct and IRS Regulations regarding professional conduct
• B) The Internal Revenue Code and state tax codes
• C) The client and the IRS
• D) The duty of loyalty to the client and a duty to the public interest

Understand the concept of cartels and their impact on profit maximization.

Identify the effects of tacit collusion among firms in an oligopoly.

Analyze the implications of the Cournot model on firm behavior and market outcomes.

Distinguish between different types of oligopoly models such as Cournot, price leadership, and collusion.