Which of the Following Is Correct with Regard to an Accountant's

question 24

Multiple Choice

Which of the following is correct with regard to an accountant's contractual liability?

• A) An accountant is bound to perform all the duties she explicitly agrees to perform.
• B) An accountant implicitly agrees to perform a contract in a competent and professional manner.
• C) An accountant who breaches his contract with a client may also be liable to a third party intended beneficiary.
• D) All of these are correct.

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Definitions:

Cost Curve

A graphical representation showing the cost of producing different quantities of output, typically illustrating concepts such as marginal and average costs.

Per Unit Costs

The average cost incurred for producing or acquiring one unit of a product or service.

Resource Prices

Refer to the market values assigned to natural or human-made materials that are used in the production of goods and services.

Inefficient Use

Utilization of resources in a way that is not optimal or does not maximize the potential outcome or benefit.