Which of the Following Would Be Permitted by the AICPA

Multiple Choice

Which of the following would be permitted by the AICPA?

A) John Smith, CPA owns 50 percent of the firm and Joan Jones, non-CPA, owns 50 percent.
B) Non-CPAs own 25 percent of the firm. The non-CPAs do not have a college degree.
C) Non-CPAs own 40 percent of the firm and follow all AICPA requirements.
D) Fred Smith, a non-CPA, owns 10 percent of the firm and has a full-time job separate from the firm and views the ownership purely as an investment.