Which of the Following Is Untrue Regarding the Relationship of an Accountant

question 6

Multiple Choice

Which of the following is untrue regarding the relationship of an accountant and the client?

• A) It is based upon mutual agreement.
• B) The accountant is under an ethical obligation not to disclose confidential information.
• C) The accountant must act in a competent and professional manner.
• D) The accountant is under a contractual obligation to follow all of the client's instructions and to use the client's figures without question.

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Definitions:

Resource Suppliers

are entities or individuals that provide the inputs needed for production processes, including raw materials, labor, and capital.

Herfindahl Index

A measure of the concentration of industries, calculated by summing the squares of the market shares of each firm within the industry.

Market Power

The ability of a company or group of companies to manipulate the price of an item in the market by controlling its supply, demand, or both.

Technologically Progressive

Characteristics of economies, firms, or industries that are consistently implementing and benefiting from new technologies, leading to increased efficiency and productivity.