Rollo is an accountant whose clients include Systems Analysis Corporation. Tyra is Rollo's attorney. Under the common law and by statute in many states, working papers that Rollo develops when preparing financial reports for Systems Analysis are owned by
A) Rollo.
B) Systems Analysis.
C) Tyra.
D) no one-the papers must be destroyed immediately after use.

Question

Rollo is an accountant whose clients include Systems Analysis Corporation. Tyra is Rollo's attorney. Under the common law and by statute in many states, working papers that Rollo develops when preparing financial reports for Systems Analysis are owned by​
A) ​Rollo.
B) ​Systems Analysis.
C) ​Tyra.
D) ​no one-the papers must be destroyed immediately after use.

Quizplus · Accepted Answer

Under common law and by statute in many states, the accountant who prepares the working papers retains ownership of them, so Rollo owns the working papers he develops.

Rollo Is an Accountant Whose Clients Include Systems Analysis Corporation