Rule 202 of the AICPA Code of Professional Conduct- Requires

question 26

Multiple Choice

Rule 202 of the AICPA Code of Professional Conduct- requires the accountant to follow the accounting standards.Rule 202

• A)gives the accounting standards clear guidelines for members to follow
• B)gives the accounting standards the force of law for the profession
• C)gives the accounting standards a measurement for due professional care
• D)gives the accounting standards an exception if the financial statements are not in accordance with GAAP

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Definitions:

Good Faith

Acting with honesty and sincerity without any intention to deceive or defraud in a contractual or legal context.

Destructive Bargaining

Negotiation tactics that seek to undermine or diminish the position of the other party, rather than working toward mutual benefit.

Contract Negotiations

The process of discussing terms and details between parties in order to reach a mutual agreement for a contract.

First Amendment

Part of the Bill of Rights in the United States Constitution, protecting freedoms of speech, religion, press, assembly, and petition.