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

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Definitions:

Flu Vaccine

A vaccine designed to protect against the influenza virus, aiming to reduce the incidence of flu and its associated complications.

Underestimates

Errors or judgments that result in a lower estimation of quantity, value, or importance than is actually the case.

External Cost

A cost that is not borne by the parties involved in a transaction but rather by third parties or society at large, such as pollution.

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Professionals who write, test, and maintain the code that allows computer applications and software programs to function properly.