Which of the following statements best explains why the CPA profession has 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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The main disadvantage of direct investment is that the firm loses access to the market in case the government of that country insists locally purchased goods have domestic content
Indicate whether the statement is true or false