An Accountant Is Most Likely to Be Held to a Fiduciary

question 21

Multiple Choice

An accountant is most likely to be held to a fiduciary standard when:

• A) The accountant is involved in preparing corporate filings for submission to the SEC
• B) A client is in an especially vulnerable financial position
• C) A contingent fee arrangement exists between an accountant and a client
• D) Accountant-client conflicts of interest do not exist or are fully disclosed

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Definitions:

Paid Time Off

Employment benefit allowing workers to take a certain number of days off while still receiving pay.

Practice Manager

An individual responsible for overseeing the day-to-day operations of a medical practice, including staffing, budgeting, and ensuring quality patient care.

Providers

Individuals or organizations that offer healthcare services to patients, such as doctors, nurses, hospitals, and clinics.

Disciplining Employees

The process of enforcing rules and applying consequences or corrective actions to address employee misbehavior or noncompliance.