One of the Rules of Professional Conduct and Repeated in GAAS

question 19

Multiple Choice

One of the rules of professional conduct and repeated in GAAS, due care, requires a member to discharge professional responsibilities with _____________.

• A) Confidentiality and integrity
• B) Objectivity and ethics
• C) Standard morals and ethics
• D) Competence and diligence

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Definitions:

Long-Term Investments

Long-term investments are financial assets intended to be held for a period longer than one year, aiming for higher returns over time.

Net Working Capital

The difference between a company's current assets and current liabilities, indicating the liquidity and operational efficiency.

Auction Market

A public market in which goods or securities are sold to the highest bidder.

Private Placements

Private placements involve the sale of securities to a relatively small number of select investors as a way of raising capital, without the need to register with regulatory bodies.