Nonfraudulent Representation Is Made Without Scienter

question 51

True/False

Nonfraudulent representation is made without scienter.

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Definitions:

GAAP

GAAP, or Generally Accepted Accounting Principles, is a set of accounting standards and practices used in the United States to govern financial reporting and ensure consistency.

Financial Accountants

Professionals who prepare financial statements and reports for companies, ensuring accurate reflection of the financial position and performance.

Stockholders' Approval

The formal consent given by shareholders for certain corporate actions, often required by law or corporate bylaws.

Cash Dividends

Cash distributions made to shareholders by a company out of its earnings.