Public Accountant and CPA

GAAP principles are a set of accounting standards that are used in the preparation of financial statements - True or False?

• True

• Not Sure

• Partly True

• False

Public accountants are required to adhere to ethical standards set by professional organizations such as the AICPA - True or False?

• True

• Not sure

• Partially true

• False

Regulatory compliance for public accountants includes adherence to laws and regulations set by government agencies such as the SEC - True or False?

• True

• False

• Not sure

• Maybe

CPA stands for Certified Public Accountant - True or False?

• Certified Professional Accountant

• False

• True

• Certified Personal Assistant

The main difference between a CPA and a public accountant is that a CPA has passed the CPA exam and met specific state licensing requirements - True or False?

• False

• Partially true

• True

• Not sure

GAAP principles are not mandatory for public accountants to follow in their financial reporting - True or False?

• True

• Not Sure

• False

• Partially True

Public accountants are not required to maintain confidentiality and integrity in their professional activities - True or False?

• Partially true

• False

• Not sure

• True

Regulatory compliance for public accountants does not include adherence to anti-money laundering laws and regulations - True or False?

• False

• Not sure

• True

• Partially true

To become a CPA, one must have a bachelor's degree and have completed a minimum number of accounting and business courses - True or False?

• True

• A master's degree is required

• Only a high school diploma is required

• False

The main difference between a CPA and a public accountant is that a CPA can perform audits and reviews, while a public accountant cannot - True or False?

• True

• False

• Not sure

• Partially true