All of the Following Transactions That Took Place in 2009

question 88

Multiple Choice

All of the following transactions that took place in 2009 would be included in GDP for 2009 except the purchase of a:

• A)book titled The Year 3000 that was printed in 2009.
• B)2001 Jeep Cherokee.
• C)year 2010 calendar printed in 2009.
• D)ticket to see the movie 2001.

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Definitions:

Restatement (Second) of Torts

The Restatement (Second) of Torts is a legal treatise from the American Law Institute that summarizes the general principles of common law torts in the United States.

Professional Negligence

The failure of a professional to perform their services with the skill and care that should be exercised by competent professionals in the same field, leading to harm.

Nonclients

Individuals or entities that have not entered into a professional service relationship with certain professionals, such as lawyers or accountants, and consequently, the professional does not owe them the same duty of care.

CPA Liable

Refers to situations where a Certified Public Accountant is held legally responsible for their actions or omissions in the course of their professional duties.