Jim,an Accountant,contracts to Perform Services for Kasey

question 35

Multiple Choice

Jim,an accountant,contracts to perform services for Kasey.Jim acts in good faith and conforms with generally accepted accounting principles,but makes a mistake in judgment.Jim is most likely

• A)liable if Jim failed to discover a defalcation.
• B)liable if Jim failed to discover a fraud.
• C)liable if Jim failed to discover an impropriety.
• D)not liable.

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Definitions:

Not Guilty by Reason of Insanity

A legal defense where a defendant claims they were unable to understand the nature of their crime or differentiate right from wrong due to a mental disorder at the time of the offense.

Institutionalized

The process of establishing something as a norm or standard within an organization or culture, or the state of being accustomed to a specific routine or environment, often used in the context of long-term care or imprisonment.

Not Guilty by Reason of Insanity

A legal defense wherein the defendant is considered not responsible for their criminal actions due to a psychiatric disease or defect at the time of the criminal act.

Maximum-Security Prison

A highly secured correctional facility designed to house and manage the most dangerous inmates with stringent measures.