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vfiekz [6]
3 years ago
12

Jack works for Red, Blue and Green CPAs. Each year Red, Blue and Green asks Jack to fill out a form indicating all of his financ

ial interests and those of his family members and close friends. Red, Blue and Green uses these charts to ensure that their auditors comply with the independence standards as described by the AICPA Code of Professional Conduct.
Code of Professional Conduct contains examples of situations that may impair an auditor's independence. Relationships are divided into three categories for purposes of the interpretations: immediate family, close relatives, and other relatives and friends. It is important for an auditor to understand how existing relationships fit into these categories so that the auditor can determine if there is an effect on his or her independence. Understanding of relationships is of primary importance to understanding the auditor's Code of Professional Conduct regarding independence. Place the following relationships into the appropriate category.

1. Immediate Family
2. Close Relative
3. Other Relative or Friend

a. Dependent
b. Child
c. Father
d. Cousin
e. Spouse
f. Sister
g. Golf
h. Partner
i. Spouse
j. Equivalent
k. Brother
l. Niece
m. Dependent
n. Parent
o. Mother
p. Nephew
q. Independent
r. Child
s. College
t. Friend
u. Grand father
Roommate
Business
1 answer:
Arturiano [62]3 years ago
6 0

Answer:

1.Immediate Family:

Dependent Child

Spouse

Spouse equivalent

Dependent Parent

2.Close Relatives:

Father

Mother

Sister

Brother

Grand Father

Independent Child

3. Other relatives and Friends:

Cousin

Golf Partner

College Friend

Roommate

Nephew

Niece

Explanation:

Code of Professional conduct is a list of standards which are required to be followed by the CPA professionals. It provides guidance to the professionals about the decision making in certain situations. There are two broad categories which is rules and standard. Rules are mandatory to be followed regardless of the situation and there can not be any deviation allowed from the listed rule. Standard provide guidance for decision making in business scenarios.

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Carla is upset about a recent action taken by a top manager at her company that was against the interest of the employees in the
jolli1 [7]

Answer:

A. Cross- Functional Group

Explanation:

A Cross Functional team/group or simply referred to as CFT represents a team that comprise of persons drawn from different areas, departments and functions within an organisation. For instance members of a CFT can be from sales, human resource, marketing and accounting among others.

Members of a CFT are usually personnels from the lower cadres in an organisation and their coming together can be good for making decisions, deliberating on issues bothering the company and they can even be put together by top management as a working group to achieve certain goals.

A unique advantage for Carla to set up a Cross-functional group is inherent in the fact that employees of the lower levels of management that are affected by the action would cut across several units and departments and brining personnel together from this various departments will help to develop solutions to the problem at hand.

6 0
3 years ago
The Chinese culture is a tight social framework in which people take care of the members of a broader in group and act loyal to
Dmitriy789 [7]

Answer:

Collectivism

Explanation:

In China is found a highly collectivist culture where individual members of the society act in the interest of the groups and not to satisfy their own personal interests. The unity established by this culture helps them collaborate effectively in large –scale projects and contribute their best towards attaining a better outcome.

The collectivism practiced in china is different from what is seen in most western parts of the world where individuals, rather than groups, are at the center of activities.  

5 0
3 years ago
A mixed economy is one that has no government control of business.<br> a. True<br> b. False
Feliz [49]
False
mixed government: comination of both public(government) and private (people).
3 0
3 years ago
On September 12, Vander Company sold merchandise in the amount of $5,800 to Jepson Company, with credit terms of 2/10, n/30. The
aalyn [17]

Answer:

DR Sales returns and Allowances ............................. $500

CR Accounts Receivable........................................................$500

Explanation:

Jepson returned $500 worth of goods so this would need to be accounted for by reducing the Accounts receivable amount by $500.

The returns will be accounted for in the Sales returns and allowances account which will be debited to reflect this.

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Today, upon graduation from medical school, physicians often recite the Hippocratic oath. Where did this originate, and what was
finlep [7]
The answer would be c
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3 years ago
Read 2 more answers
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