In Order for a Professional Services Contract to Provide the Mutually

question 56

Multiple Choice

In order for a professional services contract to provide the mutually intended benefits to all parties privy to the arrangement,what needs to be present?

• A) accountability for professional negligence
• B) professional liability insurance
• C) all essential terms
• D) entire agreement clause

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Definitions:

Cash Dividends

Payments made by a company to its shareholders out of its profits or reserves.

Originally Issued

Refers to securities that have been sold for the first time to investors directly by the issuing company.

Paid-In Capital in Excess of Par

The amount of capital contributed by shareholders over and above the par value of the shares issued.

Common Stock

A form of corporate equity ownership, a type of security representing an ownership share in a corporation, giving holders voting rights and a share in the company's profits via dividends.