Which of the Following Involves Accountant Liability to Third Parties

question 18

Multiple Choice

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

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

---

Definitions:

Aggregate Supply

The total supply of goods and services that firms in a national economy plan on selling during a specific time period.

Equilibrium GDP

The level of Gross Domestic Product at which total production equals total spending, indicating a state of economic balance without tendency to change.

Full-employment Level

signifies an economic condition where all who are able and willing to work at current wage rates have employment opportunities.

National Debt

The entirety of funds that a country's governmental body has taken on as debt through several mechanisms.