One Can Rule Out the Possibility of Reverse Causality If

question 14

Multiple Choice

One can rule out the possibility of reverse causality if one can establish that

• A) X always precedes Y in time.
• B) Y, always precedes X in time.
• C) X may occur either before Y or after Y.
• D) It is impossible to say what the time relationship between X and Y is.

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Definitions:

Primary Benefit Test

A legal doctrine used to determine who is the primary beneficiary of a service or transaction, often influencing the decision on liability or responsibility under the law.

Privity of Contract

The relationship that exists between the parties involved in a contract, allowing them to sue each other but preventing any third party from doing so.

Fraud

involves deliberate deception to secure unfair or unlawful gain, or to deprive a victim of a legal right.

Generally Accepted Auditing Standards (GAAS)

A set of guidelines for auditors working on companies' finances, ensuring audits are systematically conducted with integrity, objectivity, and professionalism.