What Are the Three Primary Types of Liability Assessed Against

question 55

Multiple Choice

What are the three primary types of liability assessed against accountants under common law?

• A) Negligence, breach of contract, and accounting misalignment
• B) Breach of contract, fraud, and accounting misalignment
• C) Fraud, negligence, and accounting misalignment
• D) Breach of contract, negligence, and innocent misrepresentation
• E) Negligence, breach of contract, and fraud

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Definitions:

Culture

The shared beliefs, behaviors, and norms within an organization that shape its social and work environment.

Behavioral Norms

Established patterns of behavior that are considered acceptable or expected within a group or society.

Ingrained

Deeply embedded or established, often referring to habits, beliefs, or practices that are difficult to change.

Justifications

Reasons or arguments presented to support or defend actions, decisions, or beliefs.