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Jane, a new partner in a CPA firm, borrows $40,000 from one of her firm's audit clients to upgrade her vacation home. She provides no
Jane, a new partner in a CPA firm, borrows $40,000 from one of her firm's audit clients to upgrade her vacation home. She provides no services to the client, does not work in the same office as the partner who performs the audit, and is unable to influence the engagement. Which statement best describes why Jane's loan may be permissible under the AICPA code? The loan is likely not material to her net worth
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