The Defendant-Auditors in the Anjoorian Case Argued, in Their Defense

question 48

Multiple Choice

The defendant-auditors in the Anjoorian case argued, in their defense, that:

• A)To be found guilty to third parties, the court must find that an accountant had contemplated a specific transaction for which the financial statement will be used and that no such transaction was contemplated.
• B)They had no liability to third party shareholders.
• C)The plaintiff's theory of damages is speculative and against public policy.
• D)All of the above.

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Definitions:

Glycolysis

The metabolic pathway that breaks down glucose to pyruvate, generating energy in the form of ATP, in the cytoplasm of cells.

Activate Glucose

The process of converting glucose into a form that can be used by cells for energy or stored for future use.

NAD+

Nicotinamide adenine dinucleotide, a coenzyme involved in redox reactions, acting as an electron carrier.

Glycolysis

The metabolic pathway that converts glucose into pyruvate, generating ATP and NADH, occurring in the cytoplasm of cells.