Under the Ultramares Rule, to Which of the Following Parties

question 49

Multiple Choice

Under the Ultramares rule, to which of the following parties will an accountant be liable for ordinary negligence? $$\begin{array} { | l | c | c | } \hline & \text { Parties in privily } & \text { Foreseen parties } \\\hline \text { A. } & \text { Yes } & \text { Yes } \\\hline \text { B. } & \text { Yes } & \text { No } \\\hline \text { C. } & \text { No } & \text { Yes } \\\hline \text { D. } & \text { No } & \text { No } \\\hline\end{array}$$

• A) Option A
• B) Option B
• C) Option C
• D) Option D

Grasp the concept of Marginal Revenue Product (MRP) and its significance in hiring decisions.

Recognize the impact of complementary and substitute resources on each other's demand.

Understand the principles of least-cost combination of resources and its effects on profit maximization.

Comprehend the decision-making process regarding employment of resources based on their marginal costs and marginal revenue products.

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Definitions:

Government Planning

The process by which a government sets priorities, establishes goals, and devises strategies to achieve economic, social, and political objectives.

Voluntary Actions

Behaviors or actions undertaken by choice or will without external coercion.

Civil Society

The realm of organized social life that is voluntary, not-for-profit, and outside of the government, which can include NGOs, clubs, and other nonprofit entities.

Democratic System

A form of government in which power is vested in the hands of the people, who exercise power directly or through elected representatives.