The Restatement approach to third-party negligence suits against accountants:
A) requires that the accountant be unaware of the third parties.
B) holds that the accountant is liable only to those third parties who are unreasonably foreseeable.
C) does not protect the typical investor who was unknown to the accountant and his/her client when the financial statements were prepared.
D) requires that the accountant be unaware of the third parties reliance on the financial statements.
Correct Answer:
Verified
Q24: Which of the following statement is true
Q25: Section 11(a)imposes liability on accountants for:
A)misstatements or
Q26: An investor seeking to recover stock market
Q27: Which of the following statements is true
Q28: Titus,a CPA,certified a client's financial statements because
Q30: An accountant's duty of care:
A)is limited to
Q31: Under the near privity approach,accountants may be
Q32: A showing of fraud requires:
A)comparative negligence.
B)inadvertent error.
C)scienter.
D)contributory
Q33: Rowell and Associates,a CPA firm,was engaged by
Q34: Under the Reasonably Foreseeable Users approach:
A)the accountant
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