The AICPA Code of Professional Conduct contains both general ethical principles that are aspirational in character and also a
a. List of violations that would cause the automatic suspension of a member's license
b. Set of specific, mandatory rules describing minimum levels of conduct a member must maintain
c. Description of a member's procedures for responding to an inquiry from a trial board
d. List of specific acts discreditable to profession
Ans: b. Set of specific, mandatory rules describing minimum levels of conduct a member must maintain
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The two basic measures of liquidity are the debt-to-equity ratio and the asset turnover ratio
Indicate whether the statement is true or false
The confidence index indicates a strong stock market when the
A) ratio of the average yield on high-grade corporate bonds to the average yield on low-grade corporate bonds rises. B) ratio between the average yield on S&P 500 stocks to the average yield on high-grade corporate bonds rises. C) consumer confidence index rises above its long-term trend. D) demand for bonds declines relative to the demand for equity securities.