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John is a young accountant at a local CPA firm. He is wresling with a problem: tyring to decide whether to cover up a mistake made in not attaching an irrevocable election to a key client's recently sumitted tax return. If he does not report the mistake, he can relieve a significant portion of the client's tax burden. john thinks taxes are unfair anyway and believes that his obligation is to look out for the client's best interests and save him from paying as much tax as possible. John also knows that keeping the client is important for the company's financial helath. Do you think most accountants would cover up such a mistake? Would they be justified in doing so?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91237664

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