Ethics Final Exam (AICPA Quizzes) UPDATED ACTUAL Questions and CORRECT
Answers
1. Serve the public's inter- As a professional CPA, I have the greatest responsibility to:
est by performing re-
sponsibilities with ob-
jectivity and integrity
2. Be free from conflicts Which of the following is a specific rule of integrity and objectivity?
and interest
3. Integrity is key to main- What is the main reason that the Integrity Principle is fundamental to the
tain the public's trust accounting profession?
4. Independent in fact and Under the objectivity and independence principle, accountants provid-
appearance ing attestation services should be
5. External auditor Which of the following is not a member of "private accounting?"
6. You have determined Which factor must be in place for you to perform services in light of a
that your threats to ob- potential conflict of interest?
jectivity are at an accept-
able level
7. Threats and safeguards What approach must AICPA members use to evaluate a matter that the
code does not address?
8. Self-interest threat Threat that you could benefit, financially or otherwise, from an interest
in, or relationship with your client or persons associated with your client.
9. Adverse interest Which of the following is not a possible threat related to gifts and
entertainment?
10. A client giving an audi- opinion
tor a free product in ex-
change for a clean audit
, Which of these is an example of a "quid
pro quo" situation?
2/9
Answers
1. Serve the public's inter- As a professional CPA, I have the greatest responsibility to:
est by performing re-
sponsibilities with ob-
jectivity and integrity
2. Be free from conflicts Which of the following is a specific rule of integrity and objectivity?
and interest
3. Integrity is key to main- What is the main reason that the Integrity Principle is fundamental to the
tain the public's trust accounting profession?
4. Independent in fact and Under the objectivity and independence principle, accountants provid-
appearance ing attestation services should be
5. External auditor Which of the following is not a member of "private accounting?"
6. You have determined Which factor must be in place for you to perform services in light of a
that your threats to ob- potential conflict of interest?
jectivity are at an accept-
able level
7. Threats and safeguards What approach must AICPA members use to evaluate a matter that the
code does not address?
8. Self-interest threat Threat that you could benefit, financially or otherwise, from an interest
in, or relationship with your client or persons associated with your client.
9. Adverse interest Which of the following is not a possible threat related to gifts and
entertainment?
10. A client giving an audi- opinion
tor a free product in ex-
change for a clean audit
, Which of these is an example of a "quid
pro quo" situation?
2/9
