Dylan Chase Is a Partner in a CPA Practice

question 51

Multiple Choice

Dylan Chase is a partner in a CPA practice.One of Dylan's partners sometimes takes a very aggressive position when auditing clients.Which of the following business types would protect Dylan's personal assets from malpractice liability for his partner's aggressive auditing tactics?

• A) Limited liability partnership
• B) Traditional partnership
• C) Not-for-profit
• D) Proprietorship

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Definitions:

Two-stage Life Cycle

A biological lifecycle that consists of two distinct stages, typically involving a transformation between juvenile and adult forms.

Adaptation

The process by which a species becomes better suited to its environment through genetic changes over generations.

Ethylene

Ethylene is a colorless gas hormone in plants, regulating various aspects of growth, ripening, and response to stress conditions.

Cellulase

Cellulase is an enzyme complex that breaks down cellulose, transforming it into beta-glucose, thus playing a crucial role in the digestion of plant material in both natural ecosystems and industrial processes.