Criminal Liability for Accountants

question 44

Multiple Choice

Criminal liability for accountants

• A)is not an option under securities law;there is only civil liability.
• B)is possible under the Securities Act of 1933,the 1934 Act,state securities laws,and the Internal Revenue Code.
• C)may result in fines but not imprisonment from violation of the federal securities laws.
• D)will result from violation of the accountant-client privilege under federal law.

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Definitions:

AFL

The American Federation of Labor, a national federation of labor unions in the United States founded in 1886, focused on skilled workers.

Craft Unions

Labor unions that organize workers in specific trades or crafts to negotiate wages, working conditions, and other employment terms.

Public Employees Unions

Labor organizations representing workers employed by governmental bodies, focusing on negotiating wages, working conditions, and benefits.

Labor Union Membership

The enrollment and participation of workers in a labor union to collectively bargain for better wages, working conditions, and benefits.