Cpas must follow the rules of circular 230. in addition, cpas in tax practice are subject to two other sets of ethical rules. give the name and the issuer of both these sets of rules.

An artist entered into a written agreement to sell a patron a partially finished painting once it was complete. the patron later learned that the artist planned to sell the painting to a third party who offered to pay the artist more than the contract price. the patron filed suit to compel the artist to sell the painting to her in accord with the terms of their agreement, while the artist denied that the painting the artist planned to sell to the third party was the subject of the agreement with the patron. at trial, the patron did not introduce the written agreement or explain its absence. rather, the patron sought to testify that, when she signed the agreement, the artist had pointed to the painting in question and stated that it was the patron’s painting. the artist’s attorney objected to the testimony that the artist identified the painting as belonging to the patron. how should the court rule? asustain the objection, because the artist’s statement was hearsay. bsustain the objection, because the patron failed to produce the written agreement or explain its absence. coverrule the objection, because the statement is not hearsay. doverrule the objection, because the statement was relevant.

How does specialization enable countries to trade with one another? a country can make and sell goods affordably and buy goods that it is inefficient at making. a country can make what it chooses and sell its goods to other countries. a country can decide to buy everything it needs from other countries. a country can efficiently make goods that were once difficult to make.

Countries that are neither core nations nor peripheral nations