Under common law, what are the three primary types of liability assessed against accountants?

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Quizplus · Accepted Answer

Under common law, accountants can be held liable for negligence, breach of contract, and fraud. Negligence involves failing to exercise the degree of care expected of a professional, breach of contract occurs when the terms of an agreement are not met, and fraud involves intentional deception to secure unfair or unlawful gain.

Under Common Law, What Are the Three Primary Types of Liability