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Andrew [12]
3 years ago
11

A former client of charlie hayes, cpa, filed a lawsuit in state court alleging that charlie failed to exercise due care in the p

erformance of tax and compilation services performed in 2011. charlie firmly believes that he performed his services with competence and diligence. in his defense, he plans to admit to making one minor error which he says was inadvertent and did not have a material effect on the client's taxes or financial position. in light of his admission, has charlie complied with the aicpa code's standard of due care and why?
Business
2 answers:
Anestetic [448]3 years ago
8 0

<span>Yes because the AICPA standard for due care does not require CPAs to be infallible. Since the definition of infallible means incapable of making a mistake. Which this is not necessarily true. CPAs are capable of making mistakes and as long as they performed their work with professional due care then they cannot be held accountable for mistakes that may have happened. </span>

zepelin [54]3 years ago
5 0

Yes because the fact that the AICPA standard for due consideration does not expect CPAs to be reliable.  

Further Explanation:  

CPA:  

Guaranteed Public Accountant (CPA) is the title of qualified bookkeepers in various nations in the English-talking world. In the United States, the CPA is a permit to give bookkeeping administrations to general society. It is granted by every one of the 50 states for training in that state.  

AICPA:  

The AICPA (American Institute of Certified Public Accountants) is the affiliation that creates and scores the Uniform Certified Public Accountants assessment. People looking to fit the bill for open bookkeeper accreditation in the United States are required to breeze through the CPA Examination.  

Job of AICPA:  

The American Institute of Certified Public Accountants assumes a key job in guaranteeing that bookkeeping experts are held to the most elevated guidelines. To guarantee part accomplishment in all angles, AICPA gives assets to enable individuals to acquire qualifications and ace the aptitudes that would enable them to succeed.  

Employment of CPA:

They are well-regarded key business guides and chiefs. They go about as specialists on numerous issues, including charges and bookkeeping. A CPA, or Certified Public Accountant, is a confided in money related consultant who helps people, organizations, and different associations plan and arrive at their monetary objectives.

Subject: business

Level: college

Keywords: CPA, AICPA, Job of AICPA, Employment of CPA.  

Related links:

Learn more about evolution on

brainly.com/question/10706678  

brainly.com/question/6869731

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Which of the following production costs, if expressed on a per unit basis, would be most likely to change significantly as the p
Romashka-Z-Leto [24]

Answer:

d. Fixed manufacturing overhead.

Explanation:

As we know that

The variable cost would remain the same in case of per unit while it could be changed in values while the fixed cost would remain the same in case of values but could be changed in per unit

But in case of the fixed manufacturing overhead, if the production level varies so it changes significantly and the direct material + direct labor are the direct cost

So the correct option is d.

3 0
3 years ago
What is the first step in developing a promotional campaign?
kotykmax [81]
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3 0
2 years ago
Diana invests $11,000 into two accounts. One account earns 9% interest and the other earns 15% interest. After one year her tota
inysia [295]

Answer:

1.15X + 1.09(11000 - X) = 11000 + 1452

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Explanation:

5 0
3 years ago
Sellers of a good bear the larger share of the tax burden when a tax is placed on a product for which the:
fenix001 [56]

Answer:

The correct answer is option ii.

Explanation:

In the case of imposition of tax on a good, the suppliers will bear the greater share of burden if the demand is more elastic than the supply.  

The imposition of tax leads to an increase in the price of the product. If the demand is more elastic, the quantity demanded will decrease to a greater extent with the increase in price.  

The supply being less elastic will change to a smaller extent, thus a greater tax burden will be borne by the suppliers.

5 0
3 years ago
Semitool Corp. has an expected excess return of 6% for next year. However, for every unexpected 1% change in the market, Semitoo
xxTIMURxx [149]

Answer:

8.8%

Explanation:

Given:

Excess return = 6% = 0.06

Return respond factor = 1.2

Expected higher percent = 1.5% = 0.015

Increase growth (stock price) = 1% = 0.01

Actual excess return = ?

Computation of actual excess return:

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= 0.07 + [0.018]

= 0.088

= 8.8%

6 0
2 years ago
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