Why Was Ernst and Young LLP Recognized by PRWeek the Year

question 43

Multiple Choice

Why was Ernst and Young LLP recognized by PRWeek the year after they took over the assets of the Arthur Andersen accounting firm?

• A)their success in selling all of the corporate assets
• B)increased revenues during the first year of management
• C)their work in internal and external communications
• D)expanded the company to a global market

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Definitions:

Remedies

Legal means used to enforce a right or redress a harm, including monetary damages and injunctions.

Misrepresented

Incorrectly or falsely presented information, often leading to a misunderstanding or an erroneous basis for a contract or agreement.

Equitable Remedy

A court-ordered action aimed at achieving fairness, such as injunctions or specific performance, rather than monetary compensation.

Rescission

The revocation, cancellation, or repeal of a contract, returning all parties involved to their positions prior to the agreement.