Section 18(a) of the Securities Act of 1934

question 31

Multiple Choice

Section 18(a) of the Securities Act of 1934:

• A) requires that the plaintiff prove reliance.
• B) makes an accountant liable for accidental mistakes in the audit.
• C) is not triggered by reliance.
• D) requires the accountant to prove that he exercised due diligence.

---

Definitions:

Market Price

The current price at which an asset or service can be bought or sold in a marketplace.

User Costs

The costs incurred by the use of a product or service, including wear and tear, opportunity cost of capital, and maintenance.

Extraction Quantity

The amount of natural resources or raw materials removed from the environment for use or sale.

Institutional Intervention

Actions taken by organizations or institutions to address or rectify a particular problem or issue.