Under which common law approach are auditors most likely to be held liable for ordinary negligence to a "reasonably foreseeable" third party?
A、Due Diligence Approach
B、Ultramares Approach
C、Restatement of Torts Approach
D、Rosenblum Approach.
A、Due Diligence Approach
B、Ultramares Approach
C、Restatement of Torts Approach
D、Rosenblum Approach.
A、Because of the economic size.
B、Because of the distance.
C、Because of political factors.
D、Because of the border effect.
A、The data required for CVP analysis can be taken directly from variable costing net operating income statement
B、Variable costing profit can be easily manipulated by controlling the level of inventories
C、Variable costing data make it easier to estimate the profitability of products, customers, and other business segments
D、Variable costing net operating income is closer to net cash flow than absorption costing net operating income
A、He is not guilty of gross negligence
B、He performed the audit with good faith
C、He performed the audit with due diligence
D、The plaintiffs did not show him to be negligent
A、The Securities Act of 1933
B、The Securities Exchange Act of 1934
C、The state blue sky laws
D、Common law
A、The CPAs had a duty
B、The CPAs made a false statement
C、The client incurred losses related to the CPA's performance
D、The CPAs breached their duty
A、breach of contract
B、negligence
C、fraud
D、statutory liability
A、Under the 1933 Act, plaintiffs need to prove reliance upon the audited financial statements.
B、Both acts place the burden of proving adequate performance on the defendants.
C、The 1933 Act requires the auditors to prove"due diligence"
D、The 1933 Act offers recourse only to individuals acquiring the initial distribution of securities.
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