Which of the Following Standards Have Most States Adopted Regarding

question 14

Multiple Choice

Which of the following standards have most states adopted regarding accountant liability for negligence to third parties?

• A)the Ultramares doctrine
• B)the foreseeability standard
• C)Section 552 of the Restatement (Second)of Torts
• D)the due diligence standard

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Definitions:

Required Reserve Ratio

The required reserve ratio is the portion of depositors' balances that banks must have on hand as cash, set by central banking authorities to ensure liquidity.

Taxes

Obligatory financial impositions or another sort of tax placed on individuals by government institutions designed to support government expenditure and multiple public financial needs.

Expansionary Monetary Policy

A form of macroeconomic policy that aims to increase the money supply and typically lower interest rates to stimulate economic growth.

Discount Rate

The rate at which central banks lend to commercial banks or other financial institutions.