The Ultramares Doctrine Provides the Broadest Standard for Holding Accountants

question 40

True/False

The Ultramares doctrine provides the broadest standard for holding accountants liable to third parties for negligence.

---

Definitions:

Disposable Income

Funds available for saving or spending once taxes and contributions to social security are deducted.

Disposable Income

Resources available to households for financial management in spending and saving after income tax deductions.

Consumption

The use of goods and services by households or the amount spent on them.

GDP

The total worth of goods and services generated inside the confines of a country during a set period, known as Gross Domestic Product, acts as a wide-ranging gauge of the country's economic health.