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CPA Ethics Exam With 100% Correct And Verified Answers
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CPA Ethics Exam With 100% Correct And Verified Answers
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CPA Ethics Exam With 100% CorrectAnd Verified Answers
Which category contains the ethical
standards, a
violation of which makes a member liable to
disciplinary
action?
(a) Ethics Rulings.
(b) Interpretations of the Rules.
(c) Rules. - Correct Answer-(c) is the conect
answer. Code of Professional
Conduct, Strncture, says that infraction of
any of the rules makes a member liable to
disciplinary action.
(a) is wrong since members who depart from
the
guidance in ethical rulings in similar
circumstances
will be asked to justify such departure. They
cannot
however be charged with violating a ruling.
(b) is also wrong since a member cannot be
charged with violating an interpretation. In a
disciplina1y
hearing where the member was charged with
violating a rnle, the member would have the
burden of justifying any departure from
interpretations ofthat rule.
Vendarsol
,The Trial Board may, after a hearing, do two
of the
three things listed below. Mark the one that
the Trial
Board cannot do.
(a) Suspend a member.
(b) Suspend the member's CPA certificate.
( c) Expel a member. - Correct Answer-(b) is
the correct answer. Code of Professional
Conduct, Enforcement, says a Trial Board
may
admonish, suspend or expel a member. The
Trial
Board has no jurisdiction over a member's
CPA
certificate.
Which of the following requires that any
changes in
them be approved by the members of the
AICPA?
(a) Rules and interpretations of the rules.
(b) Principles and rules.
(c) Principles, rules and interpretations of the
rules. - Correct Answer-(b) is correct. Code of
Professional Conduct,
Structure, says that Principles and Rules
must be
approved by the AI CPA members.
(a) is wrong and ...
Vendarsol
,( c) is wrong since interpretations are
prepared and issued by the Professional
Ethics Executive Committee without
obtaining approval by the members.
The results of a guilty finding by a Trial
Board will
be:
(a) published by the AICPA, but the member
's name will not be disclosed.
(b) published by the AICPA. and the member
's name will be disclosed if the Trial Board
votes to do
so.
(c) published by the AICPA with the member
's
name given. - Correct Answer-(c) is correct.
Code of Professional Conduct,
Enforcement says that Trial Board
convictions must
be published with the member's name
disclosed.
(a) is then wrong since the name must be
disclosed.
(b) is also wrong since the Trial Board does
not have the option of deciding whether or
not the member's name will be disclosed.
An interpretation or ethics ruling usually
becomes
Vendarsol
, effective:
(a) the first day of the month following the
month it is published in the Journal of
Accountancy.
(b) two weeks after it is published in The CPA
Letter.
(c) the last day of the month in which it is
published in the Journal of Accountancy. -
Correct Answer-(c) is corect. Code of
Professional Conduct,
Structure, says that interpretations and
rulings are
normally effective the last day of the month
they are published in the Journal of
Accountancy.
(a) and (b) are therefore wrong.
A CPA in public practice ______________ avoid
operating
under a code of professional ethics by
choosing not
to join either the AICPA or any state CPA
society.
(a) may
(b) may not - Correct Answer-(b) is correct.
Code of Professional Conduct, Coverage, says
that no CPA practicing public accounting may
avoid operating under a code of ethics. The
CPA may not join the AI CPA or his or her
state CPA society and therefore would not be
Vendarsol
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