Accountants Must Abide by a Strict Code of Ethics That

question 52

Multiple Choice

Accountants must abide by a strict code of ethics that defines their responsibilities to

• A)their clients only.
• B)their clients and the public interest.
• C)the public only.
• D)their investors and shareholders.
• E)government regulators.

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Definitions:

Lawn Service

A professional service that provides maintenance and care for lawns, including mowing, fertilizing, and weed control.

Void Contract

A null agreement that lacks legal enforceability from its inception.

Voidable Contract

A contract that appears valid but may be legally declared void at the discretion of one of the parties due to factors like fraud, coercion, or incapacity.

Privity of Contract

A legal principle which holds that only parties to a contract can sue or be sued on that contract, highlighting the direct relationship involved.