Smith & Jones,Accountants,agrees to Perform an Audit for Brick

question 15

Multiple Choice

Smith & Jones,Accountants,agrees to perform an audit for Brick & Mortar Stores,Inc.Whether or not this agreement meets all of the requirements of a contract,the parties are likely to follow the rules of contract law because they​ 

• A) ​want to avoid potential problems. 
• B) ​are conscious of those rules. 
• C) ​are not conscious of those rules. 
• D) ​have a moral obligation to do so.

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Definitions:

Corporate Law

The body of laws, regulations, and practices that govern the formation and operation of corporations.

Dividend Tax Credit

A tax credit that investors can claim in many jurisdictions for taxes already paid by a corporation on the dividends it distributes to shareholders.

Tax Legislation

Laws and regulations governing the imposition, administration, and enforcement of taxes by the government.

Letters Patent Corporation

A document issued by a government granting rights, privileges, or status to an individual or company, historically used to establish corporations.