An accountant who substantially performs his contractual duties under a contract with a client is entitled to compensation at the agreed upon rate less any damages he has caused the client.

Question

Quizplus · Accepted Answer

This statement is correct. An accountant who fulfills his obligations under a contract is entitled to receive compensation at the agreed upon rate. However, if the accountant causes damages to the client, such as through negligent or fraudulent behavior, the client may be able to deduct the amount of damages from the accountant's compensation.

An Accountant Who Substantially Performs His Contractual Duties Under a Contract