Sophie, the CFO of Slalom Ski Supplies, is offered a watch by her company's vendor. Which AICPA ethics interpretation should she apply to determine whether to accept the watch?

A. "Conceptual Framework for Independence" interpretation.
B. "Noncompliance with Laws and Regulations" interpretation (NOCLAR).
C. "Gifts and Entertainment" interpretation.
D. "Conceptual Framework for Members in Business" interpretation.

Sophie should apply the "Gifts and Entertainment interpretation" of the AICPA ethics to decide whether to accept the watch. This interpretation helps determine the appropriateness of accepting gifts from vendors.

Explanation:

Sophie, the CFO of Slalom Ski Supplies, should refer to the "Gifts and Entertainment interpretation" of the AICPA ethics to make a decision about accepting the watch. This interpretation provides guidance regarding the acceptance of gifts from vendors, which could potentially pose a conflict of interest or threaten the objectivity and independence of the business professional receiving the gift. To ensure ethical conduct, professionals should not accept significant gifts that might influence their professional decisions. Therefore, Sophie's acceptance would depend on the perceived value of the watch and whether it could influence her business decisions regarding the vendor.

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