In Which of the Following Situations Would a CPA Be

question 96

Multiple Choice

In which of the following situations would a CPA be considered independent?

• A)A CPA's brother is the Vice-President of Sales at the CPA's audit client.
• B)A CPA's father was a salesman at the CPA's audit client,and now a major portion of the father's pension fund is invested in the audit client.
• C)A CPA's cousin works as a web-site designer at the audit client.
• D)A CPA's son works summers at the audit client and has earned 10 shares of stock in the audit client.

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Definitions:

Decrease in Demand

A reduction in the quantity of a good or service that consumers are willing and able to purchase at a given price range.

Equilibrium Price

The market price at which the quantity of goods supplied is equal to the quantity of goods demanded.

Demand Curve

A graph showing the relationship between the price of a good and the quantity of the good that consumers are willing to buy.

Supply Curve

A visual depiction that illustrates the link between a product or service's price and the amount available over a specific time frame.