In which of the following instances would the independence of the CPA most likely not be considered to be impaired? The CPA has been retained as the auditor of the financial statements of a Municipality in which the CPA owns $25,000 of the $2, 500,000 indebtedness of the municipality. Credit union of which the CPA is a member. Company in which the CPA's investment club owns a 10% interest. Charitable organization in which the spouse of the CPA serves as treasurer. The AICPA Code of Professional Conduct states, in part, that a CPA should maintain integrity and objectivity. Objectivity in the Code refers to a CPA's ability To maintain an impartial attitude on all matters that come under the CPA'S review. To independently distinguish between accounting practices that are acceptable and those that are not. To be unyielding in all matters dealing with auditing procedures. To independently choose between alternate accounting principles and auditing standards. Which of the following statements is true regarding an accountant's working papers? The client owns the working papers, but, in the absence of the accountant's consent, may not disclose them without a court order. The accountant owns the working papers and generally may disclose them as the account sees fit. The client owns the working papers, but the accountant has custody of them until the accountant's bill is paid in full. The accountant owns the working papers but generally may not disclose them without the client's consent or a court order