All of the Following Are Necessary for a Legitimate Case

question 11

Multiple Choice

All of the following are necessary for a legitimate case of malpractice except

• A) a clear definition of duty.
• B) proof of damages.
• C) a clear illustration of one's breach of duty.
• D) third-party testimonial as to the inappropriate acts of the defendant.

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Definitions:

Liabilities

Obligations owed by a company to parties external to the business, which must be settled over time through the transfer of economic benefits including money, goods, or services.

Assets

Resources owned by a company that have economic value and can provide future benefits, including cash, property, and equipment.

Financial Statements

These are written records that convey the business activities and the financial performance of a company, including the balance sheet, income statement, and cash flow statement.

Statement

A formal record that summarizes financial activities or conditions, such as an income statement, balance sheet, or cash flow statement.