One of the Obligations Upon Professionals Acting in Fields That

question 35

Multiple Choice

One of the obligations upon professionals acting in fields that can create tort liability is the obligation to __________ and _____________ from the party who will be affected by the professional service.

• A) explain procedures and obtain consent
• B) charge fees under the guidelines and explain procedures
• C) avoid harm and obtain consent
• D) obtain consent to action and assess damages
• E) explain procedures and obtain consent to action

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Definitions:

Building

A structure with a roof and walls, such as a house or factory, designed for residential, commercial, or industrial purposes.

Accounting Cycle

Set of activities involved in converting information and individual transactions into financial statements.

Accountants

Professionals who perform financial functions related to the collection, accuracy, recording, analysis, and presentation of a business, organization, or individual's financial operations.

Cash Flow Method

An accounting technique that tracks the movement of cash in and out of a business, crucial for understanding its liquidity.