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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Answer:
c. a payment to a firm or individual that ships a good abroad
Explanation:
Export subsidy is a payment to a firm or individual that ships a good abroad. The aim of export subsidy is to encourage export. Thus, it increases the amount of goods and services that can be sold abroad.
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Answer:
depreciation per year: 9,000
<u>operating income: </u> 41,000
Explanation:
Q: Adjusted the records to reflect the use of the cooktop.
Under straight-line the company will recognize the same amount of depreciation over the course of the assets life. At year-end the company will adjsut for the loss in value for the asset generated for the past of time.
depreciation per year: 9,000
<u>operating income:</u>
revenues 72,000
salaries expense: (25,000)
depreciation per year: (9,000)
total 41,000
Answer:
b) not likely to have jurisdiction over the case because QuickAds is based in Georgia.
Explanation:
The Alabama court only has jurisdiction in actions that were performed within the boundary of the state of Alabama. Although David is a resident of Alabama, his law suit is likely due to actions carried out in Georgia where QuickAds the internet company is based.
Also QuickAds only contact with persons in Alabama has been through QuickAds passive advertising.
In this scenario the case can be tried in federal court because it can handle cases across state borders.
