Which of the Following Statements Is True of the Standards

question 29

Multiple Choice

Which of the following statements is true of the standards of professional organizations?

• A) NACVA's Professional Standards, which are applicable to its members when providing any taxation services, require compliance with the ten fundamental rules.
• B) AICPA, the world's largest valuation services organization, requires its members to comply with six fundamental principles as per AICPA's Code of Professional Standards.
• C) Seven consulting service standards are contained in Statement on Standards for Consulting Services No. 1, including the four general standards provided by Rule 203 of the ACFE Rules of Professional Conduct.
• D) Six principles are identified in the AICPA Code of Professional Conduct and they call for a commitment to moral behavior and an emphasis on maintaining the public's trust.

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Definitions:

Rule 10b-5

A regulation under the SEC that prohibits any act or omission resulting in fraud or deceit in connection with the purchase or sale of any security.

Security Definition

A term referring to measures or protocols implemented to protect against unauthorized access, theft, or damage to information, buildings, or individuals.

Perpetual Existence

A legal concept indicating that a corporation can continue indefinitely, regardless of changes in ownership or management.

Charitable Donations

Financial or material contributions given to nonprofit organizations or causes for philanthropic purposes.