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Scorpion4ik [409]
2 years ago
6

Justin, a member, has been in public practice for 25 years. His firm does bookkeeping and financial statements for approximately

50 business clients and prepares approximately 75 business tax returns and 200 personal tax returns. Justin's firm has never had a malpractice claim. Justin is contemplating retirement and wants to sell his accounting practice. He has hired a professional practice sales firm to help him identify potential buyers and assist in the practice sale. What is Justin's firm required to do to protect its client's confidential information in this type of situation?
A) Justin's firm must receive written permission from each of his clients before disclosing any client confidential information to a prospective buyer.
B) Justin's firm is not allowed to disclose any client confidential information to a prospective buyer and thus the potential buyer must rely exclusively on representations made by Justin's firm.
C) A review of a member's accounting practice pursuant to a potential sale is allowed if the member takes appropriate precautions (such as a written agreement) so that the prospective buyer does not disclose any client confidential information obtained during his review of the practice.
D) None of the above
Business
1 answer:
Shkiper50 [21]2 years ago
6 0

What Justin must do to protect his clients' confidential information is to allow a review of a member's accounting practice in accordance with a potential sale if the member takes appropriate precautions (option C).

<h3>What is confidential information? </h3>

Confidential information is a type of information that includes the personal data and other personal information of a person. This type of information is of high importance so it cannot be disclosed without the express consent of its owner. Additionally, this information never loses the characteristic of being confidential so it is not conditioned or limited to a term or time.

According to the above, Justin must be very careful with the information he has in his company since he cannot sell all the information because a percentage of that information is confidential and cannot be transferred without the consent of the owner of that information.

Therefore, Justin will only allow access to non-confidential information by making the potential buyer agree not to disclose confidential information that he may find in his study.

Learn more about information in: brainly.com/question/1100011

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A local theatre group wants to increase the membership and attendance at its performances. To do​ so, it hosts free​ shows,
Irina-Kira [14]

Answer:

E) Market Exchange

Explanation:

Market exchange refers to at least two people or firms trading one good or service for another. In this case, the theater group is trading a free show and other promotional activities (standup comedy nights, and volunteer work) in exchange for higher membership to their group or higher attendance to their shows.

A trade does not necessarily imply a money exchange, it can also include goods or services that provide utility for the other party. For example, an increase in group membership will help the theater group perform better.  

5 0
2 years ago
Which of the following statements is CORRECT? a. The bid price in a hostile takeover is generally above the price before the tak
just olya [345]

Answer:

a.

Explanation:

Based on all the answers that were provided the statement that is correct is that the bid price in a hostile takeover is generally above the price before the takeover attempt is announced, because otherwise there would be no incentive for the stockholders to sell to the hostile bidder and the takeover attempt would probably fail. Which pretty much explains itself, except for that a hostile takeover is when a person or another business tries to purchase a business by going directly to the shareholders themselves.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

5 0
3 years ago
NoGrowth Industries presently pays an annual dividend of $ 1.90 per share and it is expected that these dividend payments will c
dybincka [34]

Answer:

$17.27

Explanation:

The stock intrinsic value is calculated using dividend discounted model (DDM). The DDM is stated as below:

Stock intrinsic value = [This year dividend x (1 + Dividend growth)]/[Equity cost of capital - Dividend growth]

                                  = [1.9 x (1 + 0%)]/[11% - 0%] = $17.27

So vlaue of NoGrowth's stock is estimated at $17.27

5 0
2 years ago
Imagine you inherited $50,000, and you want to invest it to meet two financial goals: (a) to save for your wedding you plan to h
AleksAgata [21]

Answer:

<u>Solution and Explanation:</u>

<u>Evaluation for investment decisions </u>

  • Investing for Wedding
  • Investing for Retirement
  • CD – 24 months .
  • Energy sector mutual fund
  • General electric bond – 18 months
  • Johnson & Johnson stock
  • Money market shares
  • General electric bond – 2.5 years
  • Saving account
  • Dow ETF
  • Short term junk Bonds
  • Treasury Note – 60 months

CD – 24 months= Maturity period has met the criteria for short term goal and money used for their wedding

General electric bond – 18 months=Bonds are generally Long term or short term depends upon the maturity period for this bond has only 18 months maturity period

Money market shares = This instrument is readily converted into cash at any point in time

Saving account = No obligation of any maturity period saving account is personal account

Short term junk Bonds = Short term junk bonds are for a short period of time

Energy sector mutual fund = This sector mutual fund has long term maturity period and thereafter returns in the long term

Johnson & Johnson stock = It is considered as a dividend growth stock and investor invest for high growth on the market value of the share price

General electric bond – 2.5 years = This instrument has a long term maturity period

Dow ETF ETF is retained for capital gains in the near future period but their gestation period is high

Treasury Note – 60 months = Investment for 60 months which is not suited for short term goal of investor

 

6 0
3 years ago
A. It is the study of morality and standards of conduct B. It is the victim of subjectivity as it yields to the will of cultural
Shalnov [3]

Answer:

The correct answer is D. It is not related to the area of corporate social responsibility.

Explanation:

Ethics is a branch of philosophy that is responsible for studying morality, that is, what is considered as part of good customs and good living in society in order to generate a friendly and balanced coexistence between people.

Likewise, ethics is a virtue that leads to responsibility, honesty, commitment, to be good citizens and to avoid negatively affecting those around us with harmful actions, especially if it is to obtain a benefit in particular.

Ethics is instilled from an early age through examples that explain and exemplify the importance of our actions and their consequences. Ethics must have the goal of achieving individual happiness and of society in general, hence its object of study is morality, its importance and application.

7 0
2 years ago
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