Which of the following statements is true of accountants?
A)Accountants who pass the CPA examination are called private noncertified accountants.
B)Accountants cannot be held liable by provisions of common law.
C)Accountants cannot be held liable to clients and third parties.
D)Accountants who lack CPA certification are called public accountants.

Question

Quizplus · Accepted Answer

Public accountants are those who provide services to the general public and may or may not be certified. Private noncertified accountants are those who work for and provide services to a specific company or organization. Accountants can be held liable by provisions of common law and can be held liable to clients and third parties for any errors or misconduct in their services.

Which of the Following Statements Is True of Accountants