Which of the Following Is a Legitimate Concern for Clients

question 46

Multiple Choice

Which of the following is a legitimate concern for clients or third parties who rely on professionals who provide their services through a limited liability partnership?

• A) the adequacy of the profession's indemnification fund to cover losses
• B) whether individual partners remain liable for their own negligence
• C) whether highly specialized professional protection associations defend claims
• D) whether there will be compensation for losses caused by the professional

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Definitions:

Merchandise Trade Balance

The difference between a country's exports and imports of tangible goods.

Services Trade Balance

The difference between exports and imports of services of a country, reflecting whether a country is a net provider or consumer of services internationally.

Adam Smith

An 18th-century economist known as the father of modern economics, famous for his theories on free markets and the 'invisible hand'.

International Trade

The exchange of goods and services across international boundaries.