What Are Two Areas of Liability in Auditing

question 83

Multiple Choice

What are two areas of liability in auditing?

• A) professional liability and criminal liability
• B) criminal liability and liability under statutory law
• C) professional liability and liability under common law
• D) criminal liability and corporate liability

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Definitions:

Organism

Any living entity, from single-celled microbes to multicellular plants and animals, capable of reproduction and response to stimuli.

Blood Fluke

A type of parasitic worm, belonging to the schistosomiasis family, that infects the blood vessels of the intestinal tract or urinary tract in humans.

Beef Tapeworm

A parasitic flatworm, Taenia saginata, which infects humans through consumption of undercooked or raw beef.

Life Cycle

The series of stages through which a living organism passes, from its inception to the generation of new individuals.