The ________ Involves Accountant Liability to Third Parties Based Upon

question 21

Multiple Choice

The ________ involves accountant liability to third parties based upon privity or near-privity.

• A) Ultramares rule
• B) classification test
• C) reliance test
• D) privity rule
• E) Carrott test

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Definitions:

Market Average

A statistical measure that represents the overall movement of a specific set of stocks, indicating the general health of the stock market.

Availability Heuristic

A mental shortcut that relies on immediate examples that come to a person's mind when evaluating a specific topic, concept, method or decision.

Welfare Fraud

The act of illegally using or obtaining government assistance benefits by knowingly providing false information or withholding information.

Welfare Abuse

The misuse or fraudulent use of government assistance programs designed to help those in need.