A CPA Prepared Financial Statements That Reflect a Company's Expected

question 23

Multiple Choice

A CPA prepared financial statements that reflect a company's expected financial position,operating results,and cash flows and were based on one or more hypothetical assumptions: This CPA has:

• A) Violated the ethical standards of the accounting profession, as reflected in the IFAC Code of Conduct
• B) Violated the ethical standards of the accounting profession, as reflected in both the AICPA's and IFAC's standards of conduct
• C) Prepared financial projections, which is not an ethical violation
• D) Prepared financial forecasts, which is not an ethical violation