Need for Achievement Is Also Referred to as __________

question 39

Multiple Choice

Need for achievement is also referred to as __________.

• A) Ach
• B) NFA
• C) nAch
• D) neech

Recognize the importance of professional care and integrity in auditing and accounting practices.

Differentiate between negligence, fraud, and breach of contract in a professional context.

Understand the conditions under which professionals can be held liable for their actions and the defenses available to them.

Identify the role of auditing standards and the standard of care expected from professionals.

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Definitions:

Corporate Charter

A legal document issued by a government, outlining a corporation's rights, privileges, and purpose.

Issued Stock

Shares of a company that have been allocated and distributed to shareholders.

Preemptive Right

This is a shareholder's right to buy new shares in proportion to their current holdings before the shares are offered to the public, helping to maintain their ownership percentage.

Par Value

The nominal or face value of a bond, share of stock, or other financial instrument, as stated by the issuing company.