A person who wishes to practice accounting as a CPA must pass an exam prepared by the American Institute of Certified Public Accountants.

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This statement is true. In order to become a licensed CPA (Certified Public Accountant), one must pass the Uniform CPA Exam, which is prepared by the American Institute of Certified Public Accountants (AICPA). Other requirements for becoming a CPA vary by state, but typically include a certain number of hours of education and experience in accounting.

A Person Who Wishes to Practice Accounting as a CPA