According to the Statements on Standards for Tax Services, If

question 102

Multiple Choice

According to the Statements on Standards for Tax Services, if a CPA believes that a client's prior-year tax return contains false information, the CPA should report this to the

• A)IRS.
• B)SEC.
• C)AICPA.
• D)None of the above. The CPA does not report the false information to any external agencies, unless required by law.

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Definitions:

Percent Markup

A percentage added to the cost price of goods to calculate the selling price.

Printer/Copier/Fax Machine

Office equipment that combines the functionalities of printing, copying, and faxing into a single device.

Dollar Markup

The difference between the cost of a good or service and its selling price, expressed in dollar terms.

Ratchet-Style

A mechanism or approach that permits only incremental increases or improvements, often without the possibility of reversal.