Use the Fact Situation in Q1 to Answer the Related

question 42

Essay

Use the fact situation in Q1 to answer the related question that follows.
Based on the Enron situation,if some form of liability should flow down to the accountants of such corporations,what about the lawyers for such corporations,who not only have a duty to advise against many of the acts committed by such corporations,but who also act for such corporations on transactions that deplete corporate assets when they cannot help but know that the corporation is insolvent or close to insolvency?

---

Definitions:

Korean War

A conflict between North Korea, supported by China and the Soviet Union, and South Korea, supported by the United Nations, primarily the United States, which lasted from 1950 to 1953.

Inflation

The uptick in the overall pricing scheme for goods and services, leading to a diminution of acquisition power.

Agricultural Sector

The part of an economy concerned with the production, processing, and distribution of agricultural products.

Economic Development

The process by which a nation improves the economic, political, and social well-being of its people, often through increased industrial activity and employment opportunities.