Which of the Following Defenses May Be Raised by an Accountant

question 34

Multiple Choice

Which of the following defenses may be raised by an accountant under Section 11 of the 1933 Securities Act?

• A) Privity and due diligence
• B) Privity,but not due diligence
• C) Due diligence,but not privity
• D) Neither privity nor due diligence

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Definitions:

Expertise

Represents the specialized knowledge or skill in a particular field or area, typically acquired through education, training, and experience.

Organizational Citizenship Behaviors (OCBs)

Voluntary, extra-role activities performed by employees that contribute to the organization's effectiveness but are not part of their formal job responsibilities.

Affect

A broad term that encompasses a range of feelings and emotions individuals experience, often influencing behavior and decision-making.

Low-Mach Individuals

People characterized by their low Machiavellianism; they tend to be straightforward, honest, and trusting in their dealings with others.