The following questions relate to financial auditing and auditing standards. Select the best response.

a. The first general standard requires that a person or persons have adequate technical training and proficiency as an auditor. This standard is met by 

1. An understanding of the field of business and finance.

2. Education and experience in the field of auditing. 

3. Continuing professional education.

4. A thorough knowledge of the Statements on Auditing Standards.

b. The third general standard states that due care is to be exercised in the performance of the audit. This standard should be interpreted to mean that a CPA who undertakes an engagement assumes a duty to perform 

1. With reasonable diligence and without fault or error.

2. As a professional who will assume responsibility for losses consequent upon error of judgment.

3. To the satisfaction of the client and third parties who may rely upon it.

4. As a professional possessing the degree of skill commonly possessed by others in the field.

c. A CPA, while performing an audit, strives to achieve independence in appearance in order to 

1. Reduce risk and liability.

2. Become independent in fact.

3. Maintain public confidence in the profession.

4. Comply with the generally accepted standards of field work.

d. A CPA certificate is evidence of 

1. Recognition of independence.

2. Basic competence at the time the certificate is granted.

3. Culmination of the educational process.

4. Membership in the AICPA.