In order for a CPA to accept a gift from a client, Adequate safeguards exist to prevent any threats to compliance with the Integrity and Objectivity rule
<h3>When can a CPA take a gift from a client?</h3>
A Certified Public Accountant (CPA) is someone who has to abide by the highest ethics in the accounting profession so as to protect the integrity of financial statements and the accounting profession in general.
A CPA can therefore not be seen to be influenced by their client in a way that brings bias such that financial statements cannot be trusted. One way this can happen is if the CPA accepts a gift from the client.
To avoid this, the gift accepted must be in line with integrity and objectivity rules that ensure that the independence of the Certified Public Accountant (CPA) is protected.
In conclusion, a Certified Public Accountant (CPA) can accept a gift if Adequate safeguards exist to prevent any threats to compliance with the Integrity and Objectivity rule
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<span>Cognitively selecting sorting and organizing sensory information is called perception.
</span>The term perception denoted the ability of human to recognize and interpret sensory stimuli, to see, hear, or become aware of something through the senses.
Answer:
15.7
Explanation:
In this question we have the following information
Employment in Motor Vehicle manufacturing within city = 12643
Total employment in motor city = 560379
Total individual employment = 152750
Total employment = 106201232
We get the location quotient as
(12643/560379)/152750/106201232
0.02256/0.001438
= 15.69
This is approximately
15.7
Therefore the location quotient = 15.7
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Given: -
Sarah's income = 25% of the partnership income but not less than $12,000.
Net income of partnership for the year = $32,000.
To find: -
1) Amount that can be deducted by partnership as guaranteed payment.
2) Income that Sarah is to report on her tax return.
Solution: -
Partnership income = $32,000
Sarah's share = 25% of 32000 = $8,000
But Sarah must receive $12,000 (Shortfall $12,000-$8,000=$4,000)
So, 1) $4,000 can be deducted by partnership as guaranteed payment.
2) Income that Sarah needs to report on her tax return = $12,000.
