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PETHch1
CPA Ethics
| Question | Answer |
|---|---|
| 1. Which category contains the ethical standards, a vio- lation of which makes a member liable to disciplinary action? (a) Ethics Rulings. (b) Interpretations of the Rules. (c) Rules. | (c) infraction of the rules, the Code makes a member liable (a)wrong, members departed from guidance must justify, but cannot be charged with violation (b)wrong, member cannot be charged with violating interpretation. but if charged must justify departu |
| 2. 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. | 2. (b) is the correct answer. Codes of Professional Con- duct, Enforcement says a Trial Board may admonish, suspend or expel a member. The Trial Board has no jurisdiction over a member’s CPA certificate. |
| 3. 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. | 3. (b) is correct. Codes of Professional Conduct, Structure says that Principles and Rules must be approved by the AICPA members. (a) is wrong and... (c) is wrong since interpretations are prepared and is |
| 4.The results of guilty finding by Trial Board will be (a)published by AICPA without member’s name (b)published by AICPA, and member’s name will be disclosed if Trial Board votes to do so (c)published by AICPA with the member’s name given | 4. (c) correct. Codes Enforcement says that convictions must be published and member’s name disclosed. (a)wrong, name must be disclosed. (b)wrong,Trial Board does not have the option of deciding whether or not the member's name will be disclosed |
| 5. Interpretation or ethics ruling becomes effective (a) first day of the month after the month published in Journal of Accountancy (b) two weeks after published in The CPA Letter (c) the last day of the month in which published in Journal of Account | 5.(c) is correct. Codes 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. |
| 6. 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 | 6.(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 AICPA or his state CPA society and therefore not be subject to their code |
Created by:
baurjan
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