A CPA Cannot Be Held Liable for Violating the Duty

question 28

Multiple Choice

A CPA cannot be held liable for violating the duty of confidentiality if:

• A) He receives an urgent phone call from a client and responds to that message while standing in a crowded elevator
• B) He places a phone call to a client from his home office and a family member accidentally overhears the conversation
• C) The client did not have a reasonable expectation of confidentiality for the type of information being communicated
• D) Information was disclosed after an ongoing client relationship had terminated

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Definitions:

Net Exports

The value of a country's exports minus its imports, which is a component of a country's gross domestic product.

Domestic Investment

Financial contributions toward assets and projects within one's own country, aimed at enhancing economic growth.

Law of One Price

The economic theory that states that in efficient markets, identical goods should have only one price.

Price Ceiling

A legal maximum on the price at which a good can be sold.