Which of the Following Is True Regarding States That Have

question 49

Multiple Choice

Which of the following is true regarding states that have adopted the reasonably foreseeable users test for accountant liability to third parties?

• A) All states have adopted it.
• B) Three-quarters of the states have adopted it.
• C) Half the states have adopted it.
• D) Very few states have adopted it.
• E) All 50 states have rejected it although it is the proposed rule under the Restatement (Third) of Torts.

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Definitions:

Payee

A person to whom money is paid.

Electronic Funds Transfer System

A digital system that allows the transfer of money between accounts without the physical exchange of cash.

Debiting Accounts

The financial process of recording or entering an amount owed as a debt in an account, increasing the balance of that account.

Without Checks

Operating or proceeding without restrictions or controls, potentially leading to errors or issues.