Which of the Following Statements Is in Accord with Present

question 22

Multiple Choice

Which of the following statements is in accord with present knowledge?

• A) Coal and petroleum originated from plant matter from swamps.
• B) Coal and petroleum originated from marine life such as algae and plankton.
• C) Coal originated from plant matter and petroleum from marine life.
• D) Coal originated from marine life and petroleum from plant matter.

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Definitions:

Fraud Detector

A system or process designed to identify fraudulent activities or transactions.

Ultramares Rule

The Ultramares rule is a legal doctrine relating to negligence, limiting the liability of auditors to third parties for financial report errors, except in cases of fraud or gross negligence.

Accountant Liability

Refers to the legal obligation of accountants to perform their duties in accordance with laws and professional standards, under which failure can result in legal or professional penalties.

Privity Rule

A legal principle stating that contracts cannot confer rights or impose obligations upon any person who is not a party to the contract.