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earnstyle [38]
3 years ago
14

Upon discovering fraudulent data in a client’s tax return that the client would not correct, a CPA withdraws from the engagement

. How should the CPA respond if asked by the successor CPA why the relationship was terminated?
Business
2 answers:
ExtremeBDS [4]3 years ago
7 0

Answer:

Even though a client cannot force CPA to engage in illegal activities, like any other employer cannot force an employee to commit a crime, there exists a -accountant-client privilege that cannot be violated. This means that the accountant cannot disclose any information regarding past clients unless ordered by a court or authorized by the client himself/herself.

So, before discussing any previous events, the successor CPA must obtain the client's permission to discuss any events related to the previous relationship.

Allushta [10]3 years ago
3 0

Answer:

I would suggest that the client requests permission for us to discuss all matters on a platter.

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Exercise 2-15 Computing net income LO A1 A corporation had the following assets and liabilities at the beginning and end of this
Ipatiy [6.2K]

Answer:

a. $32,039

b. $19,439

c. -$12,961

d. $9,639

Explanation:

We will use accounting equation to solve the above question.

Assets = Liabilities + Equity

Also;

Net income will be the difference in equity plus dividends minus contributions

= [Ending equity - Beginning equity ] + Dividends

Since the beginning and ending equity is the same for all the years, then we'll have

$71,500 = $30,652 + Equity

Equity = $40,848

Ending equity = $122,500 - $49,613

= $72,887

a. Income : $72,887 - $40,848 + 0 - 0

= $32,039

b. $72,887 - $40,848 + $1,050 × 12 - 0

= $19,439

c. $72,887 - $40,848 + 0 - $45,000

= -12,961

d. $72,887 - $40,848 + $1,050 × 12 - $35,000

= $32,039 + $12,600 - $35,000

= $9,639

6 0
3 years ago
Isaiah is lucky to have such talented friends. Here’s where you come in:
anygoal [31]

Answer:

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3 years ago
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Tolton, Inc. is just shy of hitting its operating income target. The manager, K.T. Tolton, decides to purchase inferior material
mario62 [17]

Answer:

Net income increase - $4,890

Explanation:

The computation of the effect on net income is shown below:

= Number of pounds of inferior product × (standard price for the materials - inferior product price per pound)

= 3,000 pounds × ($13 - $11.37)

= 3,000 pounds × $1.63

= $4,890 increase

For determining the effect we took the difference of the prices and then multiply it with the number of pounds of the inferior product

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3 years ago
Consider a city of 200 people (100 rich and 100 poor) and two neighborhoods (100 people in each). Both groups generally prefer t
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Answer:give me Brainliest

Explanation:

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2 years ago
Net loss can be thought of as a __________ to the Capital account.<br><br> Debit<br> Credit
xz_007 [3.2K]

Answer:

The answer is Credit.

Explanation:

Net loss can be thought of as a <u>Credit </u>to the Capital account.

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2 years ago
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