Which of the Following Statements Is Correct

question 51

Multiple Choice

Which of the following statements is correct?

• A) Client prepared records (e.g., the general ledger) may be retained by the CPA until fees due to the CPA are received.
• B) CPA working papers are the joint property of the CPA and the client.
• C) Supporting records not reflected in the client's records (e.g., proposed adjusting entries) may be withheld by the CPA if fees for the engagement remain unpaid.
• D) CPA working papers that include copies of client's records are not available to third parties under any circumstances.

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Definitions:

Highest Level

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