Accounting became much more important in 1913 because of 3. a. The work of Paciolo b. The Companies Act The Sixteenth Amendment The Securities Act The CPA examination includes parts covering all of the following areas except a. Accounting practice b. Finance c. Auditing d. Business law Professional firms are often organized as proprietorships or partherships in order to: establish personal liability for professional conduct a. b. Provide tax incentives c. d. Limit owners legal liability Both b and c CPA's associated with local and regional accounting firms may often be identified as Accqunting generalists