Which of the following would be permitted by the AICPA?
A. John Smith, CPA owns 50 percent of the firm and Joan Jones, non-CPA, owns 50 percent.
B. Non-CPAs own 25 percent of the firm. The non-CPAs do not have a college degree.
C. Non-CPAs own 40 percent of the firm and follow all AICPA requirements.
D. Fred Smith, a non-CPA, owns 10 percent of the firm and has a full-time job separate from the firm and views the ownership purely as an investment.
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