Under the Balancing Approach,the third party:
A) cannot recover unless in privity.
B) cannot recover unless the accountant knew the purpose of reports and the identity of user.
C) may recover when the accountant knew audited material would be used.
D) may recover if determinative factors make liability desirable.
Correct Answer:
Verified
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
Q35: Under Rule 10b-5 of the 1934 Act:
A)the
Q36: The Ultramares approach is a:
A)strict privity approach.
B)near
Q38: Which of the following is true of
Q39: Under Section 11(a)of the 1933 Act,accountants:
A)are liable
Q40: Section 18(a)of the 1934 Act:
A)requires that the
Q41: An accountant may have conducted a limited
Q42: Bob retained Wanda,a CPA,to prepare his federal
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