Odette, an Accountant, Contracts to Perform Services for Percy

question 14

Multiple Choice

Odette, an accountant, contracts to perform services for Percy. Odette acts in good faith and conforms to generally accepted accounting principles, but makes an incorrect judgment. Odette is most likely​

• A) ​liable if Odette failed to discover a defalcation.
• B) ​liable if Odette failed to discover a fraud.
• C) ​liable if Odette failed to discover an impropriety.
• D) ​not liable.

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Definitions:

Learning And Development

Organizational activities aimed at enhancing the knowledge, skills, and competencies of employees to improve their performance and career growth.

Base Pay

The fundamental salary an employee receives for their position, not including additional types of compensation such as overtime, bonuses, or other benefits.

Performance Pay

A compensation strategy that ties an employee's pay directly to their performance and achievements within the organization.

Compensation System

A structured plan designed by an organization to pay its employees, including wages, salaries, benefits, and bonuses.