Multiple Choice
The Securities Act of 1933 significantly differs from other statutes concerning auditor liability in that:
A) The plaintiff does not need to show negligence.
B) The plaintiff does not need to show (s) he relied on the financial statements.
C) Any third party that purchased securities described in the registration statement may sue the auditor for any material misrepresentation.
D) All of the above.
Correct Answer:
Verified
Correct Answer:
Verified
Q58: Section 10b-5 of the Securities Act of
Q59: Joint and severally liable means that:<br>A) Each
Q60: In order for punitive damages to be
Q61: The auditor can control all components of
Q62: Near privity differs from privity in that:<br>A)
Q63: Punitive damages are:<br>A) Added to compensatory damages
Q64: Mary Ellen Dillon is an audit partner
Q65: The "answer" in a legal proceeding:<br>A) Refers
Q67: The plaintiff's legal standing is influenced by:<br>A)
Q68: The SEC can bring civil as well