Which of the following is true of CICPA and CACPA in the People's Republic of China (PRC)?
A)These are two translations of a single Chinese professional association from Mandarin to English.
B)The CICPA was the professional association for accountants and the CACPA is the professional association for auditors.
C)The CICPA was the professional association for CPAs in private practice and the CACPA is the professional association for accountants in public practice in the PRC.
D)None of the statements above is true.

Question

Quizplus · Accepted Answer

CICPA stands for the Chinese Institute of Certified Public Accountants and is the professional association for accountants in China. CACPA stands for the Chinese Association of Certified Public Accountants and is the professional association for auditors in China. Therefore, option B is correct. Option A is not true as they are two separate associations. Option C is incorrect as there is no distinction between CPAs in private or public practice. Finally, option D is not correct as option B is true.

Which of the Following Is True of CICPA and CACPA