- | Page
AICPA ETHICS EXAM QU ESTIONS
WITH 100% CORRECT ANSWERS
LATEST (A+ GRADED VERIFIED
BY EXPERTS)
Question : Which step in the decision-making model is
characterized by asking the question, "Are these opinions consistent with applicable professional ethics rules, regulations, and laws?"
- Recognize ethical issues
- Gather critical facts
- Consider the effect on stakeholders
- Consider rules, regulations, and laws
Correct answer: D. Consider rules, regulations, and laws
Step 7 asks this question. You may determine that the greatest benefit and least amount of harm would likely result if you take a particular course of action, but if that course of action is inconsistent with the profession's rules of conduct, you may not ignore those rules.
- | Page
Question : Which step in the decision-making model is
characterized by asking the question, "If you had to discuss your decision in public, would you be concerned about how it reflects on your ethics"
- Recognize ethical issues
- Consider your comfort level
- Consider the effect on stake holders
- Consider rules, regulations, and laws
Correct answer: B. Consider your comfort level
Step 6 asks you to consider your comfort level. Before you make a decision about the correct action when facing an ethical issue, you should ask yourself some questions.
Question : CPAs must follow the rules and standards
promulgated by which body?
A. AICPA
B. SEC
C. PCAOB
- Your state CPA licensing board
Correct answer: D. Your state CPA licensing board
- | Page
State CPA licensing boards are charged with issuing CPA licenses and overseeing the ethical conduct of CPAs in 55 jurisdictions in the United States. It is critically important for CPAs to know their state board's requirements. If you are licensed by more than one state board, you should familiarize yourself with each state's requirements.
Question : As a professional CPA, I have the greatest
responsibility to serve:
- My clients
- My best interest
- The public's interest
- My superior's interest
Correct answer: C. Your primary responsibility is to serve
the public interest.
Question : As a professional CPA, I have a responsibility
to maintain and broaden public confidence by performing
all my responsibilities with:
- Integrity
- | Page
- Speed
- Agility
- Perfection
Correct answer: A. Integrity
Integrity is one of the cornerstones of our profession.
Question : I also must maintain my objectivity, be free of
conflicts of interest, and discharge all of my responsibilities with due...
- Respect
- Care
- Diligence
- Speed
Correct answer: B. Care
Due care implies a certain level of quality and competence in the performance of services.
Question : Bob is a CPA who works as as senior
accountant in a small but diversified financial services company. Bob works for the parent company (bank) in a