Yves Is an Accountant Charged with Negli?gence by Zesty Soup

question 10

Multiple Choice

Yves is an accountant charged with negli?gence by Zesty Soup Company,a client.Yves may successfully defend against the claim if he can show that

• A)scienter was lacking.
• B)he complied with all International Financial Reporting Standards.
• C)the negligence was not the proximate cause of the client's losses.
• D)the negligence was only contributory.

---

Definitions:

Ceiling Rates

The maximum interest rate that can be charged on a particular loan model or savings account, often regulated by law or government policy.

Deposits

Money placed into a bank account or financial institution for safekeeping, which can earn interest over time.

Money Market Mutual Funds

Investment funds that invest in short-term debt securities and aim to provide investors with liquidity and a modest rate of return.

Higher Interest Rates

An increase in the cost of borrowing money, often used by central banks to control inflation and stabilize the currency.