Under Rule 505, Form of Organization and Name, a CPA

question 17

True/False

Under Rule 505, Form of Organization and Name, a CPA firm may not designate itself as "Members of the American Institute of Certified Public Accountants" unless a majority of its owners are members of the Institute.

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Definitions:

Broaching

A machining process that uses a toothed tool, called a broach, to remove material.

Drilling

The process of cutting or boring a hole through solid materials using a drill bit, often for the purpose of passing through other components or accommodating fasteners.

Reaming

A machining process used to create precise and smooth holes in a material, often as a finishing operation.

NC

Abbreviation for "Numerical Control," referring to the automated control of machining tools by means of a computer.