The Statements on Standards for Tax Services Apply to Members

question 61

True/False

The Statements on Standards for Tax Services apply to members of the AICPA,a state bar association,and all Enrolled Agents.

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Definitions:

Authorized

Having official permission or approval to do something.

Drawer

In a transaction involving a check or draft, the drawer is the party that writes and signs the check, ordering the bank to pay a specified sum to the payee.

Depositor's Account

An account maintained at a bank or other financial institution where funds are held in the depositor's name and can include both checking and savings accounts.

Stop-Payment Order

A request made to a bank to cancel a check or payment that has not been processed yet.