What does California Consumer Privacy Act mean on the CPA exam?
California Consumer Privacy Act. California's consumer privacy statute, as amended by the CPRA. A business is covered by any ONE of three tests: gross revenue over an inflation-adjusted threshold, now $26,625,000 although the statute still prints $25,000,000; 100,000 consumers or households; or 50% of revenue from selling personal information.
Defined against Cal. Civ. Code 1798.140(d)(1).
Which CPA exam sections use California Consumer Privacy Act?
California Consumer Privacy Act appears in the ISC section of the CPA exam.
Related terms
- net realizable value: Estimated selling prices in the ordinary course of business less reasonably predictable costs of completion, disposal, and transportation.
- consumer goods: Goods bought mainly for personal, family or household use.
- Privacy Rule: The HIPAA rule governing who may use or disclose protected health information and on what terms.
- working capital: Current assets less current liabilities.
- net sales: Gross sales less returns, allowances and discounts.
- change in accounting estimate: A revision to an estimate because new information arrived, applied prospectively in the period of change and later periods, never by restating prior statements.