Within the context of quality control, the primary purpose of continuing professional education and training activities is to enable a CPA firm to provide personnel within the firm with:
A. Professional education that is required in order to perform with due professional care.
B. Knowledge required in order to perform a peer review.
C. Technical training that assures proficiency as an auditor.
D. Knowledge required to fulfill assigned responsibilities and to progress within the firm.
Answer: D
You might also like to view...
Lewis Corporation reported the following information for the year ended December 31, 2015: Net income $ 10,000 Dividends 6,000 Retained earnings at December 31, 2015 25,000 What was the economic effect of the payment of Lewis' dividends?
a. The dividend reduced net income for 2015. b. The dividend should be equal to net income if the company's accounting equation is in balance. c. The dividends reduce total retained earnings for the year. d. The dividends must be paid whenever Lewis Corp. reports net income.
A field environment is synonymous with actual market conditions
Indicate whether the statement is true or false
Which of the following accounts is increased with a debit?
a. Common Stock b. Rent Payable c. Legal Fees Earned d. Dividends
The Act that allows banks to transmit electronic images of checks, thus allowing funds to be transferred immediately is known as
A) Check 2004. B) the Electronic Check Act of 2004. C) the Fraud Detecting Act. D) Check 21.