A CPA May Utilize Information Obtained During the Course of a Professional

question 13

Multiple Choice

A CPA may utilize information obtained during the course of a professional accountant-client relationship for personal gain:

• A) Only if the CPA does not disclose this information to others
• B) Only if the source of this information cannot reasonably be discovered by others
• C) Only if the use of this information does not preclude the client from pursuing any opportunities that it otherwise would have desired to pursue
• D) Never

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Definitions:

Trial Court's Finding

The outcome or decision of a case determined by the trial court after examining the evidence presented.

Clearly Erroneous

A standard for review indicating that a decision was obviously incorrect or mistaken, often used in legal contexts.

Arbitration

A method of dispute resolution involving a neutral third party who makes a binding decision to resolve a dispute between two parties.

Complaint

The pleading made by a plaintiff alleging wrongdoing on the part of the defendant; the document that, when filed with a court, initiates a lawsuit.