Multiple Choice
Which of the following represents a situation in which an auditor is independent of its client?
A) The audit fee paid by the client represents 10% of the auditor's annual gross revenue.
B) The auditor takes a personal loan from the president of the company.
C) The auditor's dependent son holds 25 shares of the client's common stock.
D) The auditor has not received payment for the previous audit services.
Correct Answer:
Verified
Correct Answer:
Verified
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