2026 Professional Ethics for Louisiana CPAs in Public Practice (Answer)
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Discussion Question #11
Which of the following is not considered a direct financial interest when applying the Independence Interpretations of the AICPA Code of Professional Conduct:
a. General Partnership interest
b. Ownership of voting stock
c. A limited partnership interest where the member does not participate in management of the partnership <– Correct Answer
d. A certificate of deposit that exceeds FDIC coverage, and the excess is material to the net worth of the member
Watch the video below to see an explanation for the answer.