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In the Business World,sellers Often Sell Goods on Credit

Question 24

Multiple Choice

In the business world,sellers often sell goods on credit.In the auditing world,due to the independence requirement,CPAs:


A) Are required to collect payment in full for an audit no later than the submission date of the CPA's audit report
B) May not give their clients more than 60 days in which to pay the full outstanding invoice owing for audit services
C) Remain independent as long as audit fees do not remain unpaid for more than one year
D) Never may require clients to pay interest on unpaid fee balances

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