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Please not copy paste by step by step answers. All are slightly different from them
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Question 1
Which is NOT one of the ethical principles in the GAOs yellow book?
A. apply judgement to determine whether to apply the framework
B.evaluate threats individually and combined
C.identify threats to independence
D.apply safeguards

Question2
June a tax preparer, encounters an ethical issue related to an individual client. Which source of rules would be LEAST likely to lead June to understand her professional responsibilities?
A.AICPA code
B.IRS circular No230
C.statement on standards for tax practice
D.SEC ruke 2-01



Question3
Which is NOT and engagement that would require an auditor to apply the GAO independence rules?
A.Attestation engagement
B.Consulting agreements
C.Performance audit
D.financial audit


Question4
Miller &Co, CPAs is considering entering into a cooperative arrangement with T corporation, an audit client. In which instance would the arrangement be PROHIBITIVE under AICPA rules?
A.The arrangement involves a prime subcontractor relationship
B.The arrangement would be a joint venture to create a new service
C.the arrangement is material to Miller but not to T corp
D.The arrangemen is not material to either party

Question5
A CPA firm performs the annual audit of the Leahy Group, a private company. Leahy asks the firm to determine whether the company will qualify for certain municipall tax creditsand prepare the application. The firm will receive 15% of any credits that Lwahy obtains result of the requested credits ,if the request is denied, no fees will be due. Leahy expects city officials to perform a substantive review of its clients application.
Which statement best describes why this fee arrangement would be a permissible contigent fee arrangement under the AICPA code of professional conduct?
A.the firm does not expect the contigent fee to be material on any level
B.the contigent fee relates to tax(nonattest )services
C.the firm expects the city to perform a substantive review of Leahy`s application
D.the contigent fee of 15% is a relatively small portion of the potentiall tax credit

Question6
Which statement best explains why the SEC has concerns about the independence of an audit firm partner who is compensated when she sells nonaudit services to her audit client?
A.The partner may lose her objectivety when performing the audit for her client
B.the partner may have a familiarity threat to her independence
C.the partner may have a conflicting interest with her client
D.the partner may have a self review threat to her independence