A Broad Interpretation of the Rights of Third-Party Beneficiaries Holds

question 29

Multiple Choice

A broad interpretation of the rights of third-party beneficiaries holds that users that the auditor should have been able to foresee as being likely users of financial statements have the same rights as those with privity of contract.This is known as the concept of:

• A)foreseen users.
• B)foreseeable users.
• C)expected users.
• D)four-party contracts.

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Definitions:

Minor Tranquilizers

A class of medications used to treat anxiety and insomnia by calming or depressing the central nervous system.

Antidepressant Drugs

Medications prescribed to alleviate symptoms of depression by correcting imbalances of neurotransmitters in the brain.

Mood Elevators

Substances, often medications, that can improve emotional state and combat depression.

Atypical Neuroleptics

A newer class of antipsychotic drugs that tend to cause fewer traditional side effects of older antipsychotics, often used in schizophrenia treatment.