Engineers Shall Not Affix Their Signatures to Plans or Documents

question 18

True/False

Engineers shall not affix their signatures to plans or documents dealing with subject matter in which they lack competence, but may affix their signatures to plans or documents not prepared under their direction and control where the engineer has a good faith belief that such plans or documents were competently prepared by another designated party.

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Definitions:

Goodwill

An intangible asset that arises when a buyer acquires an existing business, representing the premium paid over the fair value of the identifiable assets and liabilities.

Liabilities Assumed

Obligations that a company takes on as part of a transaction, such as purchasing another company or assets.

Identifiable Assets

Assets that can be separated and sold, transferred, licensed, rented, or exchanged, either individually or together with a related contract.

Measurement

The process of determining the monetary amounts at which the elements of the financial statements are to be recognised and carried in the statement of financial position or recognised in the statement of profit or loss and other comprehensive income.