Which of the Following Can Be the Basis for an Accountant's

question 50

Multiple Choice

Which of the following can be the basis for an accountant's liability under state law?

• A) Contract law and negligence,but not criminal law
• B) Tort law,contract law,and criminal law
• C) Negligence,criminal law,and strict liability
• D) Intentional torts and negligence,but not contract law

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Definitions:

General Ledger

A comprehensive record of all financial transactions over the life of a company.

Direct Labour Time

The actual time workers spend on the production floor directly working on products or services.

Standard Costing System

An accounting method that uses standard costs for costing inventory and measuring efficiency.

Board Metres

A unit of measure used in the lumber industry to quantify the volume of wood.