Which of the Following Is Correct with Regard to Private

question 113

Multiple Choice

Which of the following is correct with regard to private accountants?

• A) They are hired by business firms who do not want to use the services of CAs or CGAs.
• B) They are employed by business firms in areas such as marketing research,law,and production technology.
• C) They are becoming less common as CAs,CGAs,and CMAs become more prominent and skilled.
• D) They are almost exclusively found at the head office of business firms.
• E) They are hired to deal with the day-to-day accounting needs of companies.

---

Definitions:

Co-owners

Individuals or entities that hold ownership rights in a property or business together.

RUPA

The Revised Uniform Partnership Act, which governs the operation of partnerships in the United States.

Limited Liability

A legal principle that shields an investor's personal assets from being used to satisfy the debts and liabilities of the business, typically applicable in corporations and limited liability companies.

Partnership Business

A partnership business is a type of business structure where two or more individuals manage and operate a business in accordance with the terms and objectives set out in a partnership agreement.