Which of the Following Elements, If Present, Would Support a Finding

question 37

Multiple Choice

Which of the following elements, if present, would support a finding of constructive fraud on the part of a CPA?

• A)Gross negligence in applying generally accepted auditing standards.
• B)Ordinary negligence in applying generally accepted accounting principles.
• C)Identified third party users.
• D)Scienter.

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Definitions:

Genetically Modified Organisms

Organisms whose genetic material has been artificially manipulated through genetic engineering techniques, allowing for characteristics not normally found in the organism to be expressed.

Human Insulin

A form of insulin identical to that produced in humans, used in the treatment of diabetes; it can be manufactured biochemically via recombinant DNA technology.

Yeast

Unicellular fungi used in baking, brewing, and winemaking for fermentation, producing carbon dioxide and alcohol from sugars.

Modified Nucleotides

Nucleotides that have been chemically altered to have different properties compared to standard nucleotides, used in various biological processes.