The Greater Exposure of Professionals to Liability for Professional Negligence

question 17

Multiple Choice

The greater exposure of professionals to liability for professional negligence has led to the extensive use of

• A)private investigators.
• B)acceleration clauses.
• C)liability insurance.
• D)disclaimer clauses.
• E)professional fees.

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Definitions:

Financing Activities

Transactions and events that affect the long-term liabilities and equity of a company, such as issuing debt or equity securities.

Cash Flow Per Share

A financial metric that measures a company’s operating cash flow divided by the number of its outstanding shares.

IFRS

International Financial Reporting Standards (IFRS) are a set of accounting standards developed by the International Accounting Standards Board (IASB) that guide how financial events are reported in financial statements globally.

GAAP

Generally Accepted Accounting Principles, standard guidelines and procedures for financial accounting and reporting in the U.S.