Question 1

Is it voluntary for a member of the AICPA to follow the AICPA's Code of Professional Conduct?

Accepted Answer

The answer of Is it voluntary for a member of...

Question 2

A CPA who is not a member of the AICPA failed to abide by the AICPA's Code of Professional Conduct.The state in which she practices accounting requires all CPAs to abide by "all professional standards." This CPA's license to practice accounting will potentially be:

Accepted Answer

A)  Suspended 
B)  Revoked 
C)  Not affected 
D)  All of the above

Question 3

Is it voluntary for a bookkeeper who is not a CPA to follow the AICPA's Code of Professional Conduct?

Accepted Answer

The answer of Is it voluntary for a bookkeeper who...

Question 4

The SEC had:

Accepted Answer

A)  A primary role in the development of the AICPA Code of Professional Conduct 
B)  A secondary role in the development of the AICPA Code of Professional Conduct 
C)  No role in the development of the AICPA Code of Professional Conduct, but it retains the authority to override this code of conduct concerning the behavior of both internal and external auditors performing services relating to the financial activities of regional and local financial institutions 
D)  No role in the development of the AICPA Code of Professional Conduct

Question 5

Membership in the AICPA:

Accepted Answer

A)  Automatically makes a CPA a member of IFAC as well 
B)  Automatically subjects a CPA to the ethical rules established by the IFAC Code as well 
C)  Does not entitle a CPA to join IFAC 
D)  Entitles a CPA to join IFAC upon payment of additional dues

Question 6

A CPA who is a member of the AICPA failed to abide by the AICPA's Code of Professional Conduct.The state in which she practices accounting requires all CPAs to abide by "all professional standards." This state requirement mandates that the CPA follow:

Accepted Answer

A)  Generally accepted accounting principles 
B)  Generally accepted auditing standards 
C)  The AICPA's Code of Professional Conduct 
D)  All of the above

Exam 1: Introduction to Ethics