Which of the Following Is Not an Aspect of Rule

question 68

Multiple Choice

Which of the following is not an aspect of Rule 201 of the General Standards of the Code of Professional Conduct?

• A)A member must not take on an engagement that is beyond the member's professional competence.
• B)A member must exercise duties prudently and professionally.
• C)A member must adequately plan and supervise the performance of professional services.
• D)A member firm must not advertise services to competing clients.

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Definitions:

Tax Exempt

Describes income, property, or transactions that are legally free from tax liability.

Common Equity

The amount of ownership in a corporation that is held by common shareholders, represented by the value of common stock plus retained earnings.

Year-end Balance Sheets

Financial statements detailing a company's assets, liabilities, and equity at the end of a fiscal year.

Retained Earnings

Profits that a company retains rather than distributes to its shareholders as dividends, often used for reinvestment.