Under the Securities Act of 1933, if damages were incurred and there was a material misstatement or omission in the financial statements, the CPA will most likely lose the lawsuit unless:
A) The management intentionally deceived the auditors
B) The damages were incurred to a third party that was not a signatory to the contract
C) The CPA can shift the burden of proof to the investors
D) The CPA rebuts the allegations
Correct Answer:
Verified
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