An Accountant Normally Will Be Held Liable to the Client

question 25

True/False

An accountant normally will be held liable to the client for a mistake in judgment.

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Definitions:

Patent

A government grant to an inventor, giving the exclusive right to make, use, or sell an invention for a set period.

U.S. Patent and Trademark Office

The federal agency responsible for granting U.S. patents and registering trademarks, providing protection for inventors and businesses.

Federal District Court

The general trial courts of the United States federal court system, where civil and criminal cases are filed.

Long-Arm Statutes

Laws that allow a court in one jurisdiction the power to exercise jurisdiction over a defendant from another jurisdiction, provided that the defendant has sufficient connections with the area.