An Accountant's Conflict of Interest

question 27

Multiple Choice

An accountant's conflict of interest:

• A) Always can be waived by a client
• B) Never can be waived by a client
• C) Sometimes cannot be waived by a client
• D) Cannot be waived by the doctrine of implied consent, according to the IFAC Code of Conduct

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Definitions:

Releasing Stimulus

A specific trigger that elicits a fixed action pattern or an innate behavior in animals.

Fixed Action Patterns

Innate, pre-programmed responses triggered by specific stimuli, observed in animals, which are carried out to completion once initiated and are common in mating and defensive behaviors.

Stereotyped Behavior

Stereotyped behavior involves repetitive, rigid, and often meaningless patterns of action that are characteristic of certain developmental or psychological conditions.

A Misdemeanor

A criminal offense that is less serious than a felony and generally punishable by fines, penalties, or a short term of imprisonment.