Norman Is an Accountant

question 72

Multiple Choice

Norman is an accountant. Norman's violation of generally accepted accounting principles and generally accepted auditing standards​

• A) ​does not indicate that Norman was negligent.
• B) ​is prima facie evidence that Norman was negligent.
• C) ​precludes Norman from raising any defense against a negligence claim.
• D) ​is embarrassing but will never subject Norman to liability.

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Definitions:

Marginal Utility

The additional satisfaction or benefit received from consuming one more unit of a good or service.

Perfect Substitutes

Items or services that can replace each other without any decrease in value or enjoyment for the user.

Utility per Dollar

A metric assessing the amount of utility or satisfaction a consumer receives per dollar spent on a good or service.

ADH

Antidiuretic Hormone, a hormone that helps to control the balance of water in the body by affecting the kidneys.