A CPA Is Most Likely to Be Held to the Standards

question 29

Multiple Choice

A CPA is most likely to be held to the standards of a fiduciary when she:

• A) Performs tax accounting services
• B) Serves as investment fund manager
• C) Performs attest services other than audits
• D) Performs audits

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Definitions:

Precautionary Principle

A strategy to cope with possible risks where scientific understanding is yet incomplete, advocating preventive action in the face of uncertainty.

Environmental Policy

A set of laws and regulations aimed at protecting the environment from harmful actions or providing guidelines for the sustainable use of natural resources.

Grassroots Action

A movement or campaign driven by the population at the local level, often advocating for social, environmental, or political change.

Alliances

Associations formed between countries, organizations, or individuals for mutual benefit or to achieve common goals.