Which of the Following Is a Common Characteristic of the Most

question 12

Multiple Choice

Which of the following is a common characteristic of the most difficult cases involving professional tort with respect to third parties?

• A) breach of fiduciary obligation of professional-client privilege
• B) careless advice or misrepresentations causing economic loss
• C) breach of fiduciary obligations to maintain confidentiality
• D) conflict between the client's and the professional's interests

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Definitions:

Unfavorable

A term often used in budgeting and financial analysis to describe results that are worse than expected or budgeted figures.

Cost Variance

The difference between actual cost and the flexible budget at actual volumes.

Actual Cost

The incurred expenditure on materials, labor, and overhead necessary to produce a product or perform a service, reflecting the genuine expense.

Standard Cost

A pre-determined cost of manufacturing a product or delivering a service, calculated to help manage budgets and performance evaluations.