Rand, an Accountant, Includes a False Statement in a Report

question 8

Multiple Choice

Rand, an accountant, includes a false statement in a report for Social Media Inc. that is filed with the Securities and Exchange Commission. When Teo buys stock in Social Media and loses money on the investment, he files a suit against Rand, alleging fraud under the 1934 Securities Exchange Act. To avoid liability, Rand can show that he

• A)intended to defraud Social Media, not Teo.
• B)intended to profit on stock trades generally, not only Teo's.
• C)is an otherwise competent accountant.
• D)had no knowledge that the statement was false.

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Definitions:

Intravenous Pyelography

A radiographic procedure used to visualize the kidneys, ureters, and bladder, using a contrast medium injected into a vein.

Excretory Urography

A diagnostic imaging test that examines the kidneys, ureters, and bladder using a contrast medium to evaluate the urinary system's structure and function.

KUB

A radiographic examination (X-ray) of the kidneys, ureters, and bladder.

Contrast Media

Substances used in medical imaging to improve the visibility of internal bodily structures in radiographic procedures.