Which of the Following Is True

question 75

Multiple Choice

Which of the following is true?

• A)The existence of generally accepted accounting principles (GAAP)virtually eliminates the need for professional judgment except in very unusual circumstances.
• B)Federal securities laws regarding the issuance of misleading financial statements apply not only to the independent auditors,but to management of the company as well.
• C)Attaining a passing score on the part of the Uniform CPA Examination that covers professional ethics is evidence of integrity and commitment to ethical conduct.
• D)A professional accountant should resign his position rather than become involved in the distribution of financial statements indicating insolvency.

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Definitions:

Non-Canadian Ship

A vessel that is registered under the flag of a country other than Canada, subject to the maritime laws of its flag state.

Canadian Coastal Trade

The transport of goods or passengers between two points within Canada by sea, subject to specific regulations and protections.

Shipworkers' Trade Union

An organization that represents the interests and rights of workers in the shipping or maritime industry.

Labour Relations Board

A regulatory body that oversees and enforces labor laws related to the rights of employers and employees, including union activities and collective bargaining.