When an Accountant Is Found Liable for Fraud, What Type

question 33

Multiple Choice

When an accountant is found liable for fraud, what type of damages may be assessed in addition to compensatory damages in order to punish the accountant?

• A) Punishable
• B) Punitive
• C) Material
• D) Nominal
• E) Incidental

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Definitions:

Boundary Concessions

Agreements in which one country gives up certain territorial claims or adjusts its border as part of a negotiation with another country.

Articles of Confederation

The first constitution of the United States, in effect from 1781 to 1789, which established a national government with limited powers and was eventually replaced by the U.S. Constitution.

Independent Source of Revenue

Income that is generated independently from the main or traditional sources, often implying diversification of funding streams.

Foreign Affairs

Governmental policies and strategies dealing with other nations, including diplomacy, trade negotiations, and international agreements.