Reed Prepares Federal Corporate Income Tax Returns for Shopping Malls

Multiple Choice

Reed prepares federal corporate income tax returns for Shopping Malls, Inc., and other firms. Under the Internal Revenue Code, with respect to an understatement of a client's tax liability, Reed may be liable for​

A) ​negligent or willful misconduct.
B) ​no misconduct.
C) ​only negligent misconduct.
D) ​only willful misconduct.