Joe Smith,CPA,has Been Operating Is Own Public Accounting Practice for Several

question 6

Multiple Choice

Joe Smith,CPA,has been operating is own public accounting practice for several years.His expertise is and has always been in auditing medium-sized private companies in the agricultural industry.Recently,he referred a request to audit a large company in the automotive industry to another firm.In so doing,Joe is best demonstrating compliance with which aspect of the ethical requirements set out in CPA Canada's CAS?

• A)Objectivity and Independence
• B)Competence
• C)Due Professional Care
• D)Professional Skepticism

---

Definitions:

Period Cost

Costs unrelated to the direct production process, recognized as expenses in the period they happen, encompassing sales, general, and administrative expenditures.

Plant Manager

A professional who oversees all operations of a manufacturing facility, including personnel, production processes, and budget management.

Salary

A fixed regular payment, typically expressed as an annual amount, made by an employer to an employee, especially a professional or white-collar worker.

Product Cost

The total expense incurred to produce a product, including costs directly tied to manufacturing such as raw materials and labor, differentiated by highlighting its importance in pricing and profitability analysis.