Under the Form of Organization and Name Rule, and the related resolution of the AICPA Council, which of the following is a characteristic of a form of organization in which a member may practice public accounting?
a. A CPA firm transfers all financial interests for attest services to another non-CPA firm
b. The owners must be jointly and severally liable for the acts of the entity
c. The entity must be a professional corporation
d. A majority of the ownership of the firm must belong to CPAs
Ans: d. A majority of the ownership of the firm must belong to CPAs
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