What Sort of Liability Does an Accountant Have Under the Securities

question 28

Multiple Choice

What sort of liability does an accountant have under the Securities Exchange Act of 1934?

• A)Civil liability where there is scienter.
• B)Criminal liability where there is a willful violation.
• C)Both (a) and (b) are correct.
• D)Neither (a) nor (b) is correct.

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Definitions:

Seasonal Workers

Individuals who are employed in temporary jobs that correspond to certain seasons of the year, often in agriculture, tourism, and holiday-related industries.

Crédit Mobilier

A scandal of the 1870s involving high-ranking members of the U.S. Congress and the Crédit Mobilier of America company, linked to construction fraud during the building of the Union Pacific Railroad.

Whiskey Ring

A scandal in the 1870s involving government officials and distillers in the United States who conspired to defraud the government of taxes on whiskey.

President Grant

Ulysses S. Grant, the 18th President of the United States, serving from 1869 to 1877, known for his leadership during the Civil War and efforts during Reconstruction.