Which of the Following Statements Best Differentiates a Principle and a Rule

question 45

Multiple Choice

Which of the following statements best differentiates a principle and a rule as per AICPA's Code of Professional Conduct?

• A) A principle is an external person who oversees the behavioral actions of those who practice a profession, while a rule is a value-based internal force for behavioral action.
• B) A principle is an external person who oversees the behavioral actions of those who practice a profession, while a rule is an authoritative regulatory force for behavioral action.
• C) A principle is a value-based internal force for behavioral action and a rule is an authoritative regulatory force for behavioral action.
• D) A principle is regulatory force with advanced education and training and a rule is a value-based internal force for behavioral action.

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Definitions:

Federal Food, Drug, and Cosmetic Act

A set of laws passed by Congress giving authority to the FDA to oversee the safety of food, drugs, and cosmetics.

U.S. Food and Drug Administration

A federal agency responsible for protecting and promoting public health by controlling and supervising the safety of food, tobacco products, dietary supplements, prescription and over-the-counter pharmaceutical drugs, vaccines, biopharmaceuticals, medical devices, and veterinary products.

Enforcement Agency

A governmental agency that has the authority to enforce laws, regulations, or rules.

Truth-in-Lending Act

Legislation at the federal level intended to facilitate the informed use of credit by consumers by mandating the disclosure of its terms and costs.