According to the Code of Professional Conduct Which of the Following

question 87

Multiple Choice

According to the Code of Professional Conduct which of the following is true with respect to records in a CPA's possession?

• A) Extensive analyses of inventory prepared by the client at the auditor's request are working papers that belong to the auditor and need not be furnished to the client upon request.
• B) The auditor who returns client records must comply with any subsequent requests to again provide such information.
• C) A corporation's consolidating worksheets of their multinational conglomerate belong to the auditor and need not be furnished to the client upon request.
• D) An auditor may retain client records if fees due with respect to a completed engagement have not been paid.

---

Definitions:

Inverse Demand Function

A mathematical function that expresses price as a function of quantity demanded, illustrating how price varies with changes in demand.

Total Costs

The complete cost of production that includes both fixed and variable costs.

Tax

Tax is a mandatory financial charge or some other type of levy imposed upon a taxpayer by a governmental organization in order to fund government spending and various public expenditures.

Software Package

A bundle of software components or programs that are designed to work together to perform a specific function or set of functions.