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.