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CPA Ethics (Certified Public Accountant) Exam
WITH COMPLETE QUESTIONS AND CORRECT
VERIFIED ANS WERS LATEST UPDATE JUST
RELEASED THIS YEAR
Question: An interpretation or ethics ruling usually becomes
effective:
(a) the first day of the month following the
month it is published in the Journal of Accountancy.
(b) two weeks after it is published in The CPA
Letter.
(c) the last day of the month in which it is
published in the Journal of Accountancy. - ANSWER✔✔(c) is corect. Code of Professional
Conduct,
Structure, says that interpretations and rulings are
normally effective the last day of the month they are published in the Journal of Accountancy.
(a) and (b) are therefore wrong.
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Question: A CPA in public practice ______________ avoid operating
under a code of professional ethics by choosing not
to join either the AICPA or any state CPA society.
(a) may
(b) may not - ANSWER✔✔(b) is correct. Code of Professional Conduct, Coverage, says that no
CPA practicing public accounting may avoid operating under a code of ethics. The CPA may not
join the AI CPA or his or her state CPA society and therefore would not be subject to their codes
of ethics. The CPA, however, cannot avoid being subject to his or her state board of
accountancy's code of ethics
Question: The accounting profession 's public includes
(a) Governmental agencies.
(b) Credit grantors.
(c) Investors.
(d) All of the above - ANSWER✔✔(d) is the correct answer. As (see Article II) the
CPA's public includes everyone that relies on them. This then would include
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(a) governmental agencies,
(b) credit grantors and
(c) investors.
Question: Compliance with the AICPA Code of Professional
Conduct depends primarily on:
(a) Public opinion and reinforcement of one's attestation peers.
(b) Disciplinary proceedings when the code is
violated.
(c) Member's understanding the code and voluntary compliance with it. - ANSWER✔✔(c) is the
correct answer. Composition, Applicability
and Compliance in the Articles says that compliance with the code, as with all standards in an
open society, depends primarily on member 's understanding of the code and voluntary
compliance with it.
(a) is wrong. This section says that reinforcement by one's peers and public opinion is secondary
in obtaining compliance with the code.
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(b) is also wrong since this section says disciplinary proceedings against those that violate the
code are the ultimate or final method of obtaining compliance.
Question: The Principles state that a member has responsibility
to:
(a) Colleagues.
(b) Clients.
(c) The public.
(d) All of the above. - ANSWER✔✔(d) is correct. The Preamble to the Articles says that members
have
(a) a responsibility to colleagues,
(b) to clients and
(c) to the public.
Question: The Principles in the AICPA Code of Professional
Conduct ___________________ enforceable under their own terms.
4
SUCCESS!
CPA Ethics (Certified Public Accountant) Exam
WITH COMPLETE QUESTIONS AND CORRECT
VERIFIED ANS WERS LATEST UPDATE JUST
RELEASED THIS YEAR
Question: An interpretation or ethics ruling usually becomes
effective:
(a) the first day of the month following the
month it is published in the Journal of Accountancy.
(b) two weeks after it is published in The CPA
Letter.
(c) the last day of the month in which it is
published in the Journal of Accountancy. - ANSWER✔✔(c) is corect. Code of Professional
Conduct,
Structure, says that interpretations and rulings are
normally effective the last day of the month they are published in the Journal of Accountancy.
(a) and (b) are therefore wrong.
1
SUCCESS!
,Page 2 of 177
Question: A CPA in public practice ______________ avoid operating
under a code of professional ethics by choosing not
to join either the AICPA or any state CPA society.
(a) may
(b) may not - ANSWER✔✔(b) is correct. Code of Professional Conduct, Coverage, says that no
CPA practicing public accounting may avoid operating under a code of ethics. The CPA may not
join the AI CPA or his or her state CPA society and therefore would not be subject to their codes
of ethics. The CPA, however, cannot avoid being subject to his or her state board of
accountancy's code of ethics
Question: The accounting profession 's public includes
(a) Governmental agencies.
(b) Credit grantors.
(c) Investors.
(d) All of the above - ANSWER✔✔(d) is the correct answer. As (see Article II) the
CPA's public includes everyone that relies on them. This then would include
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(a) governmental agencies,
(b) credit grantors and
(c) investors.
Question: Compliance with the AICPA Code of Professional
Conduct depends primarily on:
(a) Public opinion and reinforcement of one's attestation peers.
(b) Disciplinary proceedings when the code is
violated.
(c) Member's understanding the code and voluntary compliance with it. - ANSWER✔✔(c) is the
correct answer. Composition, Applicability
and Compliance in the Articles says that compliance with the code, as with all standards in an
open society, depends primarily on member 's understanding of the code and voluntary
compliance with it.
(a) is wrong. This section says that reinforcement by one's peers and public opinion is secondary
in obtaining compliance with the code.
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(b) is also wrong since this section says disciplinary proceedings against those that violate the
code are the ultimate or final method of obtaining compliance.
Question: The Principles state that a member has responsibility
to:
(a) Colleagues.
(b) Clients.
(c) The public.
(d) All of the above. - ANSWER✔✔(d) is correct. The Preamble to the Articles says that members
have
(a) a responsibility to colleagues,
(b) to clients and
(c) to the public.
Question: The Principles in the AICPA Code of Professional
Conduct ___________________ enforceable under their own terms.
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