The Acts Discreditable Rule States That the Following Acts Are

question 6

Multiple Choice

The Acts Discreditable Rule states that the following acts are discreditable:

• A) An accountant's failure to file her own tax return by April 15, even if the accountant obtains a permitted extension of time from the taxing authority
• B) The late filing of a tax return for a partnership client that results in at least one of the client's partners incurring late filing penalties
• C) A CPA's nonpayment of taxes due and owed to a taxing authority
• D) A CPA firm's failure to file its partnership tax return, even if all of its partners individually have filed their tax returns on time

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Definitions:

Illness

A state of poor health, either physically or mentally, that affects a person's well-being and ability to perform daily activities.

Poverty

A condition where individuals or communities lack the financial resources to meet basic needs such as housing, food, and healthcare.

Elderly Persons

Refer to individuals who are in the later stage of life, typically aged 65 years and older, often defined in terms of their social roles, physical health, and mental capabilities.

Acute Illnesses

Health conditions that develop suddenly and have a short course, often requiring prompt or immediate care, in contrast to chronic illnesses.