Which of the following statements best explains why the CPA profession had found it essential to establish ethical standards and means for ensuring their observance?
a. A distinguishing mark of a profession is its acceptance of responsibility to the public
b. A requirement for a profession is to establish ethical standards that stress primarily a responsibility to clients and colleagues
c. Ethical standards that emphasize excellence in performance over material rewards establish a reputation for competence and character
d. Vigorous enforcement of an established code of ethics is the best way to prevent unscrupulous acts
Ans: a. A distinguishing mark of a profession is its acceptance of responsibility to the public
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