7. The AICPA bylaws provide clearer guidelines for disciplinary actions for professional infractions or acts considered to be discreditable to the profession. Which of the following is not one of the possible sanctions or disciplinary actions. AICPA member will be terminated without a hearing for:

1. a conviction of a crime punishable by imprisonment for more than one year
2. Willful failure to file any income tax return that the CPA, as an individual taxpayer, is required by law to file
3. filing an income tax return on the CPAs or clients behalf
4. Willful aiding in the preparation and presentation of a false and fraudulent income tax returns

9) In 2020, Superstores Groceries Corporation (SGC) suffered a fire damage to one of its warehouses. After the fire, SGC obtained the following valid and accurate information from its inventory general store manager. Ending inventory was $50,700. The beginning inventory was $42,000 and goods available for sale amounted $95,000.

What would be the amount that should be recovered from SGCs insurance company for inventories purchased in 2020?

1. $53,000
2. $44,300
3. $95,000
4. $145,700
5. None of the above

22) . Walter Baker, a money launderer, breaks up large amounts of cash into smaller units and deposits them in small amounts into many bank accounts to circumvent bank reporting thresholds. His strategy of avoiding financial institutions reporting requirements is known as..

(a). Currency washing

(b). Surfing

(c). Currency structuring

(e). None of the above