David Started a Public Accounting Firm

question 39

Multiple Choice

David started a public accounting firm.David is concerned that accountants on his staff may give incorrect accounting advice,and the accounting firm may be sued.What type of liability insurance should David purchase to protect against such claims?

• A)errors and omissions insurance
• B)directors and officers liability insurance
• C)general liability insurance
• D)employers liability insurance

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Definitions:

Networking Activities

The process of interacting with others to exchange information and develop professional or social contacts.

Career Success

Career Success is the achievement of personal work goals and objectives through professional development, recognition, and advancement.

Organizational Politics

The use of power and social networking within an organization to achieve changes that benefit the organization or individuals within it.

Forming Alliances

The act of creating partnerships or collaborations between individuals, groups, or organizations to achieve common goals.