Which of the Following Involves Accountant Liability to Third Parties

question 50

Multiple Choice

Which of the following involves accountant liability to third parties based upon privity or near privity?

• A) The Ultramares rule
• B) The Class test
• C) The Reliance Rule
• D) The Restatement test
• E) The Carroll Rule

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Definitions:

Spinal Cord

In vertebrates, the nerve cord that is continuous with the base of the brain and housed within the vertebral column.

Medulla Oblongata

In vertebrates, part of the brain stem that is continuous with the spinal cord; controls heartbeat, blood pressure, breathing, and other vital functions.

Respiration

The biochemical process in living organisms involving the intake of oxygen and the release of carbon dioxide, essential for energy production.

Heartbeat

The rhythmic contraction of the heart, pumping blood through the circulatory system to provide oxygen and nutrients to the body.