iggy, owner of Jaguar Security Agency offers security services unto Honest Industries Co. of which his father Joe Calida sits as member of the Board of Directors. What are the requirements for the contract to be declared valid by the Board?
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Jiggy, owner of Jaguar Security Agency offers security services unto Honest Industries Co. of which his father Joe Calida sits as member of the Board of Directors. What are the requirements for the contract to be declared valid by the Board?
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- What are the prohibitions in the Code of Ethics for Professional AccountantsRegarding CFA Standard 1 (B), if all relevant parties are notified in writing of the gift or benefit received by a member from a client or their employer: Group of answer choices will represent a breach of CFA Standard 1 (B) if a gift or benefit having a value of more than $300 is received from a client and is contrary to the policies of their employer will represent a breach of CFA Standard 1 (B) if a gift or benefit having a value of more than $300 is received from their employer not the client this can still result in a breach of the CFA Standards will represent a breach of CFA Standard 1 (B) if a gift or benefit having a value of more than $300 is received from a client not their employer this can only represent a breach of the CFA Standards if the gift or benefit has a value of less than $300Select the correct answers for the following: If ZZZ Corp., a domestic corporation registered and commenced operations in 2019, the MCIT shall apply when? a. 2021 b. 2022 c. 2023 d. 2024 If Inday, a CPA, established a partnership with Nico, a Certified Internal Auditor, to engaged in business consultancy service, the partnership is: a. Taxable as a corporation b. Is not allowed by law c. A general professional partnership d. Is exempted from taxation as the partners ae the ones liable for the tax With the intention of limiting contact by taxpayers when dealing with the Bureau of Internal Revenue and at the same time save time and money, the Bureau allowed on-line filing of returns and other reports. This is in keeping with: a. Fiscal adequacyb. Administrative Feasibilityc. Uniformity in taxationd. Theoretical justice Professional tax collected by treasurers of LGUs is an example of:a. Privilege taxb. Direct taxc. Income taxd. Specific tax
- Which of the following people must be registered in the states where they do business? A Representatives who work for a broker-dealer B C Representatives who work for an investment adviser Representatives who work for a broker-dealer and representatives who work for an investment adviser D Neither representatives who work for a broker-dealer nor those who work for an investment adviserFollowing the American Institute of Certified Public Accountants (AICPA) code of professional conduct A is required only by members of the AICPA.B is voluntary by members and nonmembers.C is required only in situations that do not jeopardize personal interest.D mandatory for all CPAs.The following situations involve a possible violation of the AICPA’s Code of Professional Conduct. For each situation, (1) determine the applicable rule number from the Code, (2) decide whether or not the Code has been violated, and (3) briefly explain how the situation violates (or does not violate) the Code. Howard Cunningham & Co., designates its firm as “Members of the American Institute of Certified Public Accountants.” All of the partners of the firm are CPAs. However, one of the partners has recently chosen to allow her membership to lapse because of personal reasons Rule#_________________ Violation? Yes No Explanation: Brad Heist, CPA, was travelling from Dallas to Huston, Texas, when he was pulled over by a police officer on suspicion of driving under the influence. The breath-alyzer and a subsequent blood test revealed that Brad was definitely impaired. He was convicted in court of driving while under the influence of alcohol (DUI). This…
- The asset on which sukuk are based must be sharia-compliant. 11) A contract in a partnership in which one partner is the investor and the other partner manages the financier's investment in an economic activity is known as: Mudaraba Musharaka ljarah O Murabaha 12) Which of the following industries and activities is most likely to be prohibited per sharia: O Tobacco industry O Food&beverages industry O Semiconductor industry Pharmaceutical companiesIf a CPA and non-CPA form a partnership to practice public accounting, which of the following arrangements would be permitted or required by the AICPA for such a partnership? I. A non-CPA banker who will be an owner will not be actively engaged in the practice. The banker is providing the financing to get the partnership formed and operating. II. Non-CPA owners (other than the banker) who are actively engaged as members of the firm would have to complete the same number of work-related CPE requirements as the CPA members. III. Non-CPA owners could have the title "partner." IV. None of these partnerships are permitted or required by the AICPA. ‣ I only II and III O III only → IV onlyWhich of the following relationships held by your spousal equivalent may impact your independence? Select all that apply. Any financial relationship (e.g. investments, loan contracts, banking accounts, etc.) that is not closed or disposed of. O Their "non-board" volunteer activities at a non-profit organization. Only relationships that you already know about. O Their employment situation.
- List four circumstances where a CPA licensee from another state would require approval from the California board of Accountancy before practicing public accounting in California. In cases where prior approval is not necessary, what are the requirements for the out of state licensee to practice public accounting. Express your opinions on these requirements. Under what circumstances is a CPA required to notify a client that a CPA is licensed by the California Board of Accountancy? What are the permissible means of making this notification? Why do you think this is a requirement? Under what circumstances can a CPA be paid on a commission basis? Why do you think the regulation impose these restrictions? Which section of the regulations require a CPA to comply with Generally Accepted Accounting Principles and Generally Accepted Auditing Standards? If compliance is required by other organizations (PCAOB, AICPA, etc.) why do you think this requirement is also included in the regulations? If…An insurance broker whose registration is "restricted to oftine following activities? Acting Under Supervision" may NOT perform which one (1)•Sign letters to members of the public recommending insurance coverage.•Solicit insurance except in the presence of their supervisor.•Deposit insurance premiums in their own trust bank account.•Collect premiums on behalf of the insurance broker by whom they are employed.The owner of an accounting practice is considering establishing a partnership with two other persons to carry on the business. What are the major disadvantages of a partnership form that she should consider in making her decision?
