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accounting ethics exam asap

I am taking an exam and need it answered in 1 hour please. It is 65 questions. I will attach all questions here. I am not looking for a perfect grade. I just want a passing grade. Please help me.

QUESTION 3

  1. The Civil Rights Act of 1964 covers equal employment opportunity rights based on protected classes, yet some employers are allowed to discriminate in hiring, firing, etc. based on those protected classes under the Bona Fide Occupational Qualification (“BFOQ”) exception. Which of the following is not an element of a BFOQ exception to equal employment opportunities?
    A. There is a direct relationship between the protected trait and the ability to perform job duties.
    B. The business employs less than 40 people.
    C. No less restrictive alternatives exist.
    D. The job duties are essential to the central mission of the employer’s business.

2 points

QUESTION 4

  1. Sarah and Jane are friends. Sarah recently sat for the Financial Accounting section of the CPA Exam, but Jane did not. Jane plans to sit for that portion in the next few weeks. One morning over coffee, Jane asks how Sarah was doing after her recent breakup from Steve. Sarah begins to sob uncontrollably because of the breakup and her stress over the recent part of the Exam. Jane, in an attempt to console her, merely says “There, there. It’ll be okay.” Sarah responds by saying, “You don’t understand, the question about Consolidated Cash Flow Statements was so hard, given the implied value of the second S-Corporation issue! I can’t get it out of my mind!”Which of the following is the most true statement?
    A. Jane has committed a discreditable act because she was a party to someone who disclosed exam questions or answers.
    B. Jane has committed a discreditable act because she knowingly solicited exam answers.
    C. Sarah has committed a discreditable act because she knowingly disclosed exam questions.
    D. Sarah has not committed a discreditable act because she negligently disclosed exam questions.

2 points

QUESTION 5

  1. Pursuant to Circular 230, which of the following would be the most permissible use of a contingent fee arrangement?
    A. A contingent fee for services rendered in connection with preparing, submitting, and defending an Offer in Compromise with the IRS.
    B. A contingent fee for services rendered in connection with preparing and filing a claim for refund of income taxes with the IRS.
    C. A contingent fee for services rendered in connection with preparing and filing an original tax return with the IRS.
    D. A contingent fee for services rendered in connection with preparing and filing an original tax return with the California FTB.

2 points

QUESTION 6

  1. A professional staff member was asked to join the board of directors of a charitable organization that is an audit client of her firm’s office. If she accepts this position, then for her firm to remain independent, which of the following actions are required?
    A. Her position as a board member is purely honorary.
    B. She does not vote at the board meetings.
    C. Neither A or B are required.
    D. Both A and B are required.

2 points

QUESTION 7

  1. In California, which of the following is not an expressed requirement before a CPA can receive a commission for referring a client to goods or services?
    A. Any disclosure must identify the source of the commission and relationship to the CPA.
    B. The CPA is not significantly involved in the operations of the referred goods or services.
    C. The goods or services must be provided in conjunction with the professional services of the CPA.
    D. Any required disclosure must be in writing.

2 points

QUESTION 8

  1. Which of the following is not a protected class for purposes of the Civil Rights Act of 1964:
    A. Age.
    B. Religion.
    C. Race.
    D. Color.

2 points

QUESTION 9

  1. Which one of the following is least likely to be one of the AICPA’s core Principles from the Code of Conduct?
    A. Act with due care.
    B. Possess adequate training and skill.
    C. Serve the public interest.
    D. Return client records.

2 points

QUESTION 10

  1. Which of the following is most likely an essential element in California before a CPA can give a referral.
    A. The disclosure shall be in writing and be clear and conspicuous.
    B. The disclosure shall identify the source of the payment and the relationship between the source and the CPA.
    C. The CPA should disclose the relationship at or near the time of the referral.
    D. None of the above. A CPA can always give a referral.

2 points

QUESTION 11

  1. Which of the following is least likely to be a title or designation that could be confused with Certified Public Accountant (“CPA”), and thereby impermissible in California?
    A. “Accountant.”
    B. “Accounting.”
    C. “Enrolled Agent.”
    D. “R.A.”

2 points

QUESTION 12

  1. A calendar-year privately held review client of Early & Co. CPA’s, has paid only $15,000 of the $25,000 fees billed to them in March 2017. Early & Co.’s records show that $18,000 of the time charges and expenses were incurred in 2016 and the balance of $7,000 was time charges and expenses for January and February 2017. The work consisted of review of the 2016 financial statements, 2016 federal and state income tax returns and some management consulting services. The unpaid balance of $10,000 is not significant to Early & Co. In May 2017, Early & Co. started and completed their work on the client’s 2017 financial statements. They plan on issuing their report on these financial statements during the early part of June 2018. A staff person questions, in light of the unpaid fees, whether or not they are independent. Which of the following is the best true statement in answer to the staff person’s question?
    A. Since the $10,000 is not significant to the Early & Co., it does not pose an independence problem.
    B. If the client agrees to pay the $10,000 in four equal monthly installments starting July 2018, independence will not be impaired.
    C. To maintain independence with this client, the $10,000 should have been paid within one year of the March 2017 date the statement for $25,000 was sent. Since that date has passed there is nothing that can be done to make the firm independent with respect to the 2017 financial statements.
    D. To maintain independence with this client the $10,000 must be paid before the issuance of the report on 2017.

2 points

QUESTION 13

  1. “The greatest good for the greatest number of people” best describes the theory of:
    A. Justice.
    B. Rights.
    C. Deontology.
    D. Utilitarianism.

2 points

QUESTION 14

  1. Which of the following most accurately describes the AICPA’s spousal exception to the fee and commission rule?
    A. A CPA’s spouse can receive a commission for referring products or services to a CPA’s client, but only if the CPA and spouse have separate households.
    B. A CPA’s spouse cannot receive a commission for referring products or services to a CPA’s client.
    C. A CPA’s spouse can receive a commission for referring products or services to a CPA’s client, but only if the CPA and spouse’s activities are separate ones and the CPA is not significantly involved in the spouse’s activities.
    D. A CPA’s spouse can receive a commission for referring products or services to a CPA’s client, but only if the CPA discloses to their client they are married.

2 points

QUESTION 15

  1. Which of the following least describes the AICPA’s Due Care Principle?
    A. A CPA should render services promptly.
    B. A CPA should be honest and candid.
    C. A CPA should work with other CPA’s to improve the profession.
    D. A CPA should practice where there are adequate internal quality controls.

2 points

QUESTION 16

  1. “Ethical relativism” can best be described as a:
    A. An ethical reasoning method that holds one should always act out of self-interest.
    B. An ethical reasoning method that holds one should always consider the effect of one’s actions on others.
    C. Concept that holds that integrity should be maintained in the face of pressure by others.
    D. Point of view that morality is relative to the norms of one’s culture.

2 points

QUESTION 17

  1. A “fee” for purposes of California’s anti-referral fee rule can take the form of which of the following:
    A. A commission, rebate, or preference.
    B. A commission, discount, or other consideration.
    C. Answer A but not Answer B.
    D. Answer A and B.

2 points

QUESTION 18

  1. Vera is a CPA. She has had a long-standing relationship with one of her audit clients. In the past, they have attended football games together, exchanged holiday gifts, and even gone on family vacations. Just recently the audit client offered to take Vera along for a weekend of skiing in Tahoe. Is the trip to Tahoe acceptable?
    A. Yes, if it is clearly insignificant to Vera.
    B. Yes, if considering all the circumstances it was reasonable.
    C. Yes, if it is clearly insignificant to the audit client.
    D. Yes, because Vera and the audit client have a history of similar activities.

2 points

QUESTION 19

  1. Which of the following is least likely a violation of the AICPA’s Acts Discreditable Rule?
    A. Innocently soliciting CPA exam questions.
    B. Intentionally soliciting CPA exam answers.
    C. Unknowingly disclosing CPA exam answers.
    D. Recklessly soliciting CPA exam questions.

2 points

QUESTION 20

  1. Faced with two choices, you happily decide to act in such a way that 4 clients’ privacy rights are made better off, while 3 clients’ privacy rights are directly compromised by your actions. Which of the following would least support your decision to act in such a way:
    A. Universality Principle.
    B. Utilitarianism Philosophies.
    C. Consequentialism Theories.
    D. Egoism Theories.

2 points

QUESTION 21

  1. The Public Interest principle of the AICPA Code of Professional Conduct is intended to apply a professional standard on a CPA relative to which of the following:
    A. Clients.
    B. The Government.
    C. Employers.
    D. All of the Above.

2 points

QUESTION 22

  1. Frustrated with the slow line at AAA, and your need to only get a quick and simple stamp from an agent on an insurance form, you decide to slip the receptionist $10 in hopes that she will let you cut the front of the line. Is this an example of a facilitation payment?
    A. Yes, because the secretary is exercising a discretionary act.
    B. No, because you’ve merely offered the $10, and that is not a material amount to either of you.
    C. Yes, because the $10 is reasonable under the circumstances.
    D. Yes, if the insurance agent’s stamp is a routine act.

2 points

QUESTION 23

  1. Which of the following is least likely to be an acceptable form of client consent to the disclosure of otherwise confidential client information?
    A. A client telling you in a quick phone call that it was okay to disclose the information, if you do not practice in California.
    B. A client signing, with a notary present to witness, a declaration on your letterhead that it was okay to disclose the information, if you practice in California.
    C. A client signing, with a notary present to witness, a declaration on your letterhead that it was okay to disclose the information, if you do not practice in California.
    D. A client telling you in a quick phone call that it was okay to disclose the information, if you practice in California.

2 points

QUESTION 24

  1. Which of the following would least likely be an example of incompetent or disreputable conduct according to Circular 230?
    A. Voluntarily and intentionally violating a known legal duty by arguing to the IRS that you are a “sovereign nation” and not subject to U.S. taxation.
    B. Willfully failing to file a California tax return.
    C. Willfully failing to pay an IRS tax.
    D. Willfully failing to file an IRS tax return.

2 points

QUESTION 25

  1. Mitch McDeere and Avery Tolar are both California CPA’s who decide to form a partnership named “McDeere, Tolar, and Associates – CPA’s.” When the two first start out in 2000, times are tight, and they cannot afford to hire any staff or employees until 2003. Sometime in 2005, the two hit it big in representing a client named Lamar Quinn and his various business entities and ventures. “McDeere, Tolar, and Associates – CPA’s” not only prepares tax returns for Mr. Quinn and his various enterprises, but they frequently provide attest services at Mr. Quinn’s request. Late in 2010, Mr. Tolar dies. Mr. McDeere decides to fill Mr. Tolar’s shoes and hires an Enrolled Agent, Tammy Hemphill, immediately thereafter. Mr. McDeere is so impressed with Ms. Hemphill’s work that she is soon made a partner in “McDeere, Tolar, and Associates – CPA’s” along with Mr. McDeere. Nevertheless, Mr. McDeere remained shaken by his partner’s death, and sets out to sell the firm. In 2012, Mr. McDeere finds a prospective buyer in Eddie Lomax. Mr. Lomax is understandably anxious about the firm he may buy, and requests to review all client tax files, especially Mr. Quinn’s information.Ms. Hemphill could a permissible owner of “McDeere, Tolar, and Associates – CPA’s,” along with Mr. McDeere, if which of the following were true?
    A. Ms. Hemphill materially participates in the business of “McDeere, Tolar, and Associates – CPA’s.”
    B. “McDeere, Tolar, and Associates – CPA’s” discloses Hemphill’s involvement in any matter to its clients.
    C. Ms. Hemphill’s Enrolled Agent license with the IRS remains in good standing.
    D. All of the above.

2 points

QUESTION 26

  1. Which of the following best describes the difference between a direct financial interest and an indirect financial interest?
    A. A direct financial interest is one where the financial interest is owned beneficially through an intermediary and the beneficiary neither controls the intermediary nor can he/she supervise or participate in the investment decisions. An indirect financial interest is one where the financial interest is owned directly by the individual or by an entity which the individual controls or where he/she can supervise or participate in investment decisions
    B. A $1,000 investment in a stock would be a direct financial interest where a $50 investment in that stock would be an indirect financial interest.
    C. Ownership of 100 shares of stock would be a direct financial interest where as ownership of 5 shares of the same stock would be an indirect financial interest.
    D. A direct financial interest is one where the financial interest is owned directly by the individual or by an entity which the individual controls or where he/she can supervise or participate in investment decisions. An indirect financial interest is one where the financial interest is owned beneficially through an intermediary and the beneficiary neither controls the intermediary nor can he/she supervise or participate in the investment decisions.

2 points

QUESTION 27

  1. Which of the following best describes, or is included in, the AICPA’s Integrity Principle?
    A. A CPA should render services promptly.
    B. A CPA should work with other CPA’s to improve the profession.
    C. A CPA should be honest and candid.
    D. A CPA should practice where there are adequate internal quality controls.

2 points

QUESTION 28

  1. Under Circular 230, tax practitioners are entitled to certain due process rights if they are found to be in violation of its ethical standards. However, certain provisions allow for expedited suspensions, meaning they do not get such rights. Under Circular 230, which of the following is the best example of when a tax practitioner could be expeditiously suspended?
    A. Mary, the controller and person in sole financial control of a small company, failed to file its employment taxes for the last 5 quarters.
    B. Sam willfully failed to pay his Federal taxes for 4 out of the last 5 years.
    C. John failed to file his California income tax return for the last 5 years.
    D. Dan, who used the most vulgar and incendiary language, including highly-offensive profanity, when addressing an IRS Revenue Agent.

2 points

QUESTION 29

  1. A two-office firm, in Denver and San Diego, has a manufacturing audit client in San Francisco. The Denver office handles the entire engagement. Which of the following immaterial stock holdings will not impair the firm’s independence?
    A. Holdings by Denver professional staff workingon this job.
    B. Holdings by San Diego partners.
    C. Holdings by Denver partners.
    D. None of the above,i.e., they all impair independence.

2 points

QUESTION 30

  1. An impermissible commission cannot take the form of which of the following?
    A. A discount.
    B. A rebate.
    C. Cash.
    D. None of the above.

2 points

QUESTION 31

  1. A CPA may violate the AICPA’s Acts Discreditable Rule if they:
    A. Make materially false and misleading entries in a client’s financial statements.
    B. Knowingly direct another to sign a document containing materially false and misleading information.
    C. Indemnify an attest client for indirect damages related to the client’s actions.
    D. All of the above.

2 points

QUESTION 32

  1. You are a partner in an accounting firm and your mother just purchased stock in an audit client of the firm. You and your mother are both residing in Los Angeles at the time. The engagement for this audit client is handled by your firm’s Los Angles office and you worked on the engagement. Which of the following would be required to prevent an impairment to independence?
    A. Your mother is not your depend

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