Multiple Choice
Ronald is an independent accountant.He is hired by Procious,Inc.to audit its financial statements.He fails to uncover that Procious,Inc.has been involved in embezzlement.A corporation makes a tender offer for the shares of Procious,Inc.and discovers the embezzlement.According to which of the following standards is Ronald liable for negligence?
A) the Ultramares doctrine
B) Section 552 of the Restatement (Second) of Torts
C) the foreseeability standard
D) implied warranty of fitness for a particular purpose
Correct Answer:
Verified
Correct Answer:
Verified
Q62: Which of the following opinions would an
Q63: _ imposes civil liability on accountants and
Q64: Under the common law,accountants may be held
Q65: A person cannot be imprisoned under Section
Q66: _ is a rule that says that
Q68: Mary is an accountant who was hired
Q69: While conducting an audit,an auditor must verify
Q70: Section 11(a)of the Securities Act of 1933
Q71: The Financial Accounting Standards Board (FASB)issues new
Q72: Which of the following statements is true