Author Question: Which of the following statements is true of the standards of professional organizations? A) ... (Read 87 times)

lb_gilbert · **on:** Jul 6, 2018

Which of the following statements is true of the standards of professional organizations?

A) NACVA's Professional Standards, which are applicable to its members when providing any taxation services, require compliance with the ten fundamental rules.
B) AICPA, the world's largest valuation services organization, requires its members to comply with six fundamental principles as per AICPA's Code of Professional Standards.
C) Seven consulting service standards are contained in Statement on Standards for Consulting Services No. 1, including the four general standards provided by Rule 203 of the ACFE Rules of Professional Conduct.
D) Six principles are identified in the AICPA Code of Professional Conduct and they call for a commitment to moral behavior and an emphasis on maintaining the public's trust.

Question 2

The liability account ______________ is used for short-term liabilities or charge accounts, usually due within 30 days.
a. Short-term Payable
b. Liability Payable
c. Accounts Payable
d. Accounts Receivable

mceravolo · **Reply #1 on:** Jul 6, 2018

Answer to Question 1

D
Explanation: D) Six principles are identified in the AICPA Code of Professional Conduct and they call for a commitment to moral behavior and an emphasis on maintaining the public's trust.

Answer to Question 2

C