Which of the Following Is True

question 75

Multiple Choice

Which of the following is true?

• A)The existence of generally accepted accounting principles (GAAP)virtually eliminates the need for professional judgment except in very unusual circumstances.
• B)Federal securities laws regarding the issuance of misleading financial statements apply not only to the independent auditors,but to management of the company as well.
• C)Attaining a passing score on the part of the Uniform CPA Examination that covers professional ethics is evidence of integrity and commitment to ethical conduct.
• D)A professional accountant should resign his position rather than become involved in the distribution of financial statements indicating insolvency.

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Definitions:

π Network

A system of delocalized π-electrons in a molecule that contributes to its stability, often found in aromatic compounds.

Lone Pair Electrons

Electron pairs in the outermost shell of an atom that are not shared or bonded with another atom, influencing molecular shape and reactivity.

Pyridine

A basic heterocyclic organic compound with the chemical formula C5H5N, resembling benzene but having a nitrogen atom replacing one of the carbon atoms.

Orbital

A region in an atom where there is a high probability of finding electrons.