Is the following action or situation a violation of the AICPA Code of Professional Conduct? Poirot and Lemon (a real estate broker) formed a partnership to develop real estate. Lemon is a 20% managing partner, and Poirot and three other individuals are limited partners who own the remaining 80% of the partnership. Lemon obtained financing from a bank where Poirot is the partner on the audit engagement. OA. No. B. Yes, because the accounting firm and its audit partners own more than 25% of the real estate partnership. C. Yes, because the accounting firm and its audit partners own more than 50% of the real estate partnership. Reset Selection Question 7 of 8 1 Points Is the following action or situation a violation of the AICPA Code of Professional Conduct? Lavery (not a CPA) owns 90% of a real estate partnership and is the managing partner, CPA Poirot owns 10% of the real estate partnership. Poirot is the audit manager for the bank where Lavery recently obtained a loan. O A. Yes. B. No, because the CPA owns less than 25% of the real estate partnership. C. No, because the CPA owns less than 50% of the real estate partnership. Reset Selection