Match Each of the Following Terms with Its Definition

question 82

Multiple Choice

Match each of the following terms with its definition.
-A process of identifying the financial benefits and costs associated with a development project.

• A)economic feasibility
• B)legal and contractual feasibility
• C)operational feasibility
• D)political feasibility
• E)schedule feasibility
• F)technical feasibility

Identify the conditions under which accountants can be held liable to third parties and understand the scope of accountant-client privilege.

Describe the elements of and remedies for breach of contract in the context of accounting services.

Understand the implications of the Sarbanes-Oxley Act on the accounting profession and regulatory compliance.

Recognize the circumstances under which accountants may face civil or criminal liability for securities laws violations.

---

Definitions:

Delaware

A U.S. state known for having favorable corporate laws, making it a popular jurisdiction for forming corporations.

Partnership

A voluntary association between two or more people who co-own a business for profit.

Share Classes

Categories of stock in a company, each with different rights, privileges, and restrictions.

Business Judgment Rule

A legal principle that protects corporate directors and officers from liability for decisions made in good faith and believed to benefit the company.