Please help me answer the questions within the attachment

1. According to the Fraud Triangle, which the following is one of the requisites for fraud to occur? a. The perception of an opportunity for ill-gotten financial gain b. The existence of sound justification for a person to receive greater financial rewards c. The existence of a clear-cut opportunity for ill-gotten financial gain d. Employment in a sensitive financial capacity in which peers reap greater financial rewards than the employee contemplating fraud receives 2. Your employer operates in an industry in which company pre-tax earnings are expected to increase by 5% next year. Your employer, however, has issued earnings guidance in which it declared that it expects its pre-tax earnings to increase by 11% next year. As a result, which of the following elements of the Fraud Triangle are present? a. Attitudes b. Pressure to understate expenses c. Opportunity to overstate revenues d. All three elements are present 3. When a person's net cash flow exceeds his or her reported taxable income, the IRS: a. Has an automated system that identifies a taxpayer as a possible tax cheater b. Presumes, upon examination, that the taxpayer is underreporting his or her income c. Conclusively recognizes that the taxpayer is underreporting his or her income d. Conclusively recognizes that the taxpayer has underreported both income and tax payments 4. In some jurisdictions, laborers, including accountants, are given a lien over client records. (A lien is a priority legal and economic right that is created when a client fails to pay agreed-upon fees.) This lien customarily entitles an accountant to retain possession of client records until outstanding fees are paid in full. When such a lien right arises, the AICPA Code of Professional Conduct states that: a. State law is given priority over the CPA profession's rules of ethical conduct b. The CPA profession's rules of ethical conduct are given priority over state law c. The CPA is allowed to select the set of rules that are most favorable to the CPAThe CPA is obligated to abide by the set of rules that is most favorable to the client 5. When unaudited financial statements prepared on a basis that does not conform to GAAP are disseminated by a CPA, the CPA should: a. Directly contact intended recipients of these statements to inform them about the nonconformity with GAAP b. Mark the statements as \"Unaudited\" and state that they are \"Not prepared in accordance with GAAP\" c. Not be involved in the physical or digital transmission of these statements d. Not sign any reports or statements indicating her status as a CPA 6. A CPA is in partnership with three non-CPAs. The CPA wants to sign a report. Her signature will appear at the bottom of the report and the signature block will mention that she is a CPA and is affiliated with this partnership. This CPA: a. May do so as long as the non-CPAs comply with the standards set forth in the AICPA's Code of Professional Conduct b. May do so as long as the report would not lead a reasonable reader to believe that the entire partnership is comprised solely of CPAs c. May not do so because the use of the entire firm's name would imply to a reasonable reader that all partners in the firm participated in the submission and preparation of the report d. May not do so because a CPA who is in partnership with non-CPAs may not use the entire partnership's name in connection with reports submitted to clients or third parties 7. A CPA wishes to mention the names of her most prominent clients on her website. The mere existence of a professional relationship between a CPA and a small business client: a. Never may be disclosed due to the duty of confidentiality b. Never may be disclosed unless the client gives it specific consent c. Generally may be disclosed by a CPA as long as the substance of the communications between them is not disclosed d. Always may be disclosed, but it is advisable to first request the client's permission to avoid jeopardizing the client's goodwill 8. During the cold winter months, a Nebraska corn farmer discussed hiring a CPA to maintain his books and records. During the course of their discussions, the farmer told the CPA about various proprietary techniques that he uses to maximize the yield from growing corn and maximize the revenue his business generates. Thereafter, the farmer got busy operating his business and never contacted the CPA again. For what period of time, if any, does this CPA owe a duty of confidentiality to this farmer? a. No duty at all because the duty of confidentiality only continued until the time at which it became reasonably certain that the farmer would not become the CPA's client b. Expired after the end of the farmer's busy growing and harvesting season, if not sooner c. One year d. Forever 9. A CPA specializes in helping businesses evaluate their future prospects and create successful budgets. As part of this process, the CPA invariably learns confidential information about a company's future. To avoid potential liability, the CPA's engagement letter states upfront that \"all information learned after the commencement of services shall not be subject to the duty of confidentiality.\" This CPA: a. May utilize for its own benefit information learned from this budgeting engagement because of this express waiver provision b. May utilize for its own benefit information learned from this budgeting engagement because the duty of confidentiality does not apply to management consulting engagements c. May not utilize information learned from this client relationship because the client did not give its specific consent d. May not utilize information learned from this client relationship because the duty of confidentiality can never be waived 10. A CPA firm has an office in New York and an office in San Francisco. The CPA firm's New York office has been retained to audit the financial statements of a new bank client based in New York. The bank is a very large provider of consumer loans. As a result, numerous professionals who work at the CPA firm have outstanding loan and credit card balances owed to this bank. Which of the following loans potentially will impair the CPA firm's independence to audit this bank? a. A New York tax partner, who will not work on the audit, has a large mortgage loan owing to the bank b. A New York tax partner who will work on the audit has a standard automobile loan owing to the bank c. A San Francisco audit partner who only audits governmental entities has a large credit card balance owing to the bank d. A New York audit partner who will serve as the concurring partner on this bank audit engagement uses a credit card issued by this bank but routinely pays off the full outstanding balance monthly 11. A CPA firm billed for audit services performed for a client more than one year ago. The client has paid a portion of the fees outstanding, but it has not been able to pay the remaining balance due to cash flow problems. The CPA firm has verified that the cash flow problems are authentic and expects the client to be able to pay the remainder of the bill, but the CPA firm cannot reasonably estimate the timing of such payments. As a result, the CPA firm: a. Remains independent if the amounts that remain owing are immaterial to the CPA firm b. Remains independent if the client has paid over 50% of the total invoice outstanding c. Can preserve its independence if the client willingly signs a Note Payable for these services and the note bears a reasonable market rate of interest d. Lacks the independence to perform further attestation services 12. The adverse interest threat exists when: a. A client sues its auditor for incompetence b. A CPA testifies in court, in response to a valid court subpoena, that it observed illegal activity taking place at the client's place of business c. A CPA voluntarily testifies in court that its client incorrectly recorded cash proceeds as nontaxable loan proceeds rather than as a taxable sale d. A CPA, in response to a formal SEC inquiry, states that it has serious concerns about the trustworthiness and candor of an audit client's CFO 13. A CPA has been asked by an engaged couple to help them budget the amount that they can afford to spend on their upcoming wedding. Both the groom and the bride approached the CPA together and met with him together. The CPA has no prior relationship with either of these individuals. The groom and the bride each have agreed to pay one-half of the CPA's fees. The CPA: a. Currently does not have an accountant-client conflict of interest, but must be alert to the possibility that one will arise b. Currently does not have a dual-client conflict of interest, but must be alert to the possibility that one will arise c. Currently has a conflict of interest and should not accept this professional engagement d. Currently has a conflict of interest, and should agree to render professional services to this couple only if they give their specific consent to waive this conflict of interest 14. An accountant and a prospective client are contemplating entering into a professional relationship in which the accountant will provide monthly bookkeeping services and annual tax return preparation services for this client's hair salon. The accountant's teenage daughter told this prospective client that her father is \"an amazing accountant,\" which facilitated the professional introduction. The accountant's daughter works for this prospective client as a receptionist. In all likelihood, the accountant: a. May not provide services to this prospective client b. May provide only tax preparation services to this prospective client because a conflict of interest presently exists c. May provide only bookkeeping services to this prospective client because a conflict of interest presently exists d. May provide all requested services because a conflict of interest does not currently exist and is not reasonably foreseeable 15. A CPA agreed to render professional services to all three of the shareholders in a corporation. All three shareholders asked the CPA to determine the amount of corporate earnings that should be distributed as dividends and the amount that should be maintained as Retained Earnings to spur the future growth of the corporation. All three told the CPA that they want to \"allocate cash flow to maximize everyone's after-tax wealth.\" Two weeks after the CPA began this assignment, one of the shareholders told the CPA privately that she \"desperately needed immediate cash flow from dividends because her mother recently had a stroke and needs to be able to afford to give her mother proper medical care. This shareholder asked that her mother's medical condition be kept confidential, to respect her mother's wishes. The CPA: a. Acted properly at the outset of this professional engagement b. Acted improperly at the outset of this professional engagement because representation of fellow shareholders automatically creates a dual-client conflict of interest c. Acted improperly at the outset of this professional engagement, but now has a duty to complete the engagement to minimize further harm to her clients d. Acted improperly at the outset of this professional engagement and has a duty to inform the accountancy licensing board about this misconduct 16. To encourage interested parties to report fraudulent accounting practices, a company maintains a whistleblower hotline. A person left a message on this hotline anonymously, but the company's Chief Regulatory Compliance Officer was able to identify this caller based on her voice and surrounding facts. As a result, the company may: a. Not disclose this caller's identify under any circumstances b. Not disclose this caller's identity if the caller is a company employee c. Not disclose this caller's identity until after the investigation concerning accounting fraud is completed d. Not disclose this caller's identity until after the investigation concerning accounting fraud is completed and resolved in the company's favor 17. To encourage reports of abusive securities law violations, a company maintains an internal whistleblower hotline. The hotline allows callers to identify themselves or to remain anonymous. A caller, who identified himself by name and company job title, recently informed the company that the actuarial assumptions underlying its expected employee turnover was wrong. The caller then left a second, more detailed message in which the accrued impact of this mistake on the company's Estimated Future Liability for Workers' Compensation clams was estimated. The caller's estimates were correct, but the amount of the error was determined by the company to have arisen due to an innocent mistake and the amounts were immaterial to the company's financial statements. Accordingly, under the Sarbanes-Oxley Act, the company: a. May disclose the caller's name if the company does so out of a sincere desire to discourage wasteful calls about immaterial matters b. May disclose the caller's name, without restriction c. May not disclose the caller's identity under any circumstances d. May not disclose the caller's name, but may disclose in general terms his job title and the degree to which he had access to internal company records 18. The AICPA Code of Professional Conduct: a. Makes whistleblowing concerning perceived illegal acts mandatory only if the amounts involved are material to a company b. Makes whistleblowing concerning perceived illegal acts mandatory only if the whistleblower is both a CPA and a company employee c. Does not make whistleblowing mandatory by CPAs working in industry, but the Integrity and Objectivity Rule expressly encourages it d. Tends to discourage it due to the duty of confidentiality 19. The Sarbanes-Oxley Act requires that publicly traded companies: a. Adopt formal policies that prohibit them from granting employees exemptions from company \"conflict of interest\" rules b. Decide \"conflict of interest\" issues based on an employee's individual facts and circumstances, rather than based on arbitrary guidelines c. Disclose decisions concerning employee \"conflict of interest\" waiver requests on the company's website or in some other widely accessible format d. Disclose to the SEC the rationale for any decisions that waive the application of their \"conflict of interest\" in a particular situation 20. In accordance with Sarbanes-Oxley Act, employee Codes of Conduct should: a. Promote employees' responsibilities to preserve the confidentiality of company financial information b. Be disclosed on a company website or in SEC filings c. Be signed annually, or more frequently, by company officers engaged in financial reporting oversight roles d. Be acknowledged annually in writing by all managerial and professional employees 21. An Audit Committee must: a. Be comprised solely of independent individuals who do not have direct financial interests in the company they serve b. Be comprised solely of independent individuals who are not members of the corporation's Board of Directors c. Be comprised solely of individuals who also serve as company directors d. Approve the core accounting methods selected and applied by the company's auditors in presenting company financial statements 22. A paid tax return preparer estimated a client's charitable contributions based on the taxpayer's statement that she \"donates $20 cash every week to her church\" and she \"attends church weekly, without fail.\" Upon audit, the IRS discovered that this taxpayer never attends church and never made any charitable contributions. This tax return preparer is: a. Not subject to any fines or penalties b. Subject to civil fines, but not criminal penalties, if the character of these claimed deductions as estimates was adequately disclosed to the IRS with the word \"estimate\" or the abbreviation \"est.\" appearing adjacent to the estimated item c. Subject to civil fines and potentially subject to criminal penalties d. Subject to having his license as a professional tax return preparer suspended for a short period of time 23. A tax return preparer may prepare a tax return solely based on information furnished by a client: a. If the information appears to be reliable on its face b. Even if the information appears to be inconsistent with reality c. Even if the preparer knows facts that would make a person question the authenticity of the furnished information d. As long as the taxpayer agrees in writing to accept full responsibility for the authenticity of the furnished information 24. The \"Cohan Rule\" states that: a. A taxpayer is not liable for tax liability that arose due to a tax return preparer's negligence b. A taxpayer who incurred legitimate tax deductions may claim reasonable estimates of these deductions on her tax return c. A taxpayer who furnishes incomplete information to a tax return preparer may claim estimated deductions only if the tax return preparer independently determines the amounts of these estimates in good faith d. A tax return preparer who claims estimated deductions on a client's tax return is legally liable to the government for any tax liability that arises if the deductions are illegitimate and the taxpayer is unable or unwilling to pay the resulting increase in tax liability 25. The use of estimates on a tax return should be prominently disclosed on the face of the tax return if: a. The estimates involved deductions for meals and entertainment b. The estimates involved business-related automobile usage c. The taxpayer was unavailable to participate in the tax return preparation process due to illness or death d. The estimates result in a change in a taxpayer's tax liability by \"a sum equal to or greater than $1,000\