An accountant has a fiduciary duty: (a) To a client when conducting an audit. (b) To an
Question:
An accountant has a fiduciary duty:
(a) To a client when conducting an audit.
(b) To an investor who buys stock in a company the accountant has audited.
(c) To any third party that the accountant knows will be relying on an audit.
(d) Only for services that go beyond routine accounting work.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (3 reviews)
The correct answer is b To an investor who buys stock in a company the accountant has audited Explan...View the full answer
Answered By
Krishnavendra Y
I am a self motivated financial professional knowledgeable in; preparation of financial reports, reconciling and managing accounts, maintaining cash flows, budgets, among other financial reports. I possess strong analytical skills with high attention to detail and accuracy. I am able to act quickly and effectively when dealing with challenging situations. I have the ability to form positive relationships with colleagues and I believe that team work is great key to performance. I always deliver quality, detailed, original (0% plagiarism), well-researched and critically analyzed papers.
5.00+
4+ Reviews
10+ Question Solved
Related Book For
Essentials Of Business Law
ISBN: 9781337404198
6th Edition
Authors: Jeffrey F Beatty, Susan S Samuelson
Question Posted:
Students also viewed these Business questions
-
Multiply Choice 1. A CPAs duty of due care to a client most likely will be breached when a CPA: (a) Gives a client an oral instead of a written report (b) Gives a client incorrect advice based on an...
-
1. The SEC has issued independence rules that differ from the AICPA's in all of the following areas except: (Points : 1) Working paper documentation. Provision of other professional services. Human...
-
The Crazy Eddie fraud may appear smaller and gentler than the massive billion-dollar frauds exposed in recent times, such as Bernie Madoffs Ponzi scheme, frauds in the subprime mortgage market, the...
-
Revvit is an online motorcycle equipment store that sells motorcycle helmets, boots, jackets, and more. With no brick-and-mortar stores, Revvit relies on many systems to provide an excellent customer...
-
On July 1, 2011, Howard is granted the right to acquire 500 shares of Matoney Corporation stock for $15 per share. The option qualifies under the companys incentive stock option plan. The current...
-
A real estate agent claims that the average price of a home sold in Beaver County, Pennsylvania, is $60,000.Arandom sample of 36 homes sold in the county is selected, and the prices in dollars are...
-
In Figure P28.10, (a) specify the direction of the magnetic field at the location labeled \(\mathrm{P}\) due to each of the four sides 1-4 of the current loop. (b) Which side produces the strongest...
-
On April 1, Renato Uhrig established Renatos Travel Agency. The following transactions were completed during the month. 1. Invested $15,000 cash to start the agency. 2. Paid $600 cash for April...
-
22 22 The atomic number of an element T is 10. T shows similar properties to an element with atomic number 23. 24. A. 14 B. 16 C. 18 d. 20 The electron configurations of elements W, X, Y and Z are...
-
An accounting teams worst nightmare might be to wake up one morning and discover that a company for which it had repeatedly issued clean opinions did not really exist. In fact, the company had been...
-
Nan forges Minas name on a check to buy a television set from Costmart. The store deposits that check into its account at Bank, but Bank does not credit Costmarts account for the amount of the check....
-
Monthly payments of $433 are made for 3 years to repay a loan at 10.8% compounded monthly. In Problem, find i ( the rate per period) and n ( the number of periods) for each loan at the given annual...
-
Find the probability of obtaining at least one head in four flips of a coin.
-
In Problems 13-24, suppose a die is rolled twice and let \[\begin{array}{ll}A=\{\text { first toss is a prime }\} & B=\{\text { first toss is a } 3\} \\C=\{\text { second toss is a } 2\} & D=\{\text...
-
Find the probability of obtaining exactly four heads on five tosses of a fair coin.
-
Suppose a pair of dice are rolled. Consider the sum of the numbers on the top of the dice and find the probabilities. a. 7 , given that the sum is odd b. odd, given that a 7 was rolled c. 7 , given...
-
Find the requested probabilities in Problems 11-14. \(P(C)\) if \(P(\bar{C})=\frac{9}{13}\)
-
Prepare the entries that would be made in the general long-term debt account group for the following events: a. To finance the construction of an art center, $13,000,000 of general obligation term...
-
Determine whether the lines are parallel, perpendicular, or neither. 2x + 3y = -12, 2y - 3x = 8
-
Because most professionals carry liability insurance, what is the role of the insurance industry in promoting the competence of professionals?
-
1. Smith was represented by Lewis, an attorney, in a divorce action against her husband, General Smith. General Smith was employed by the California National Guard and, as a state employee, belonged...
-
Indicate whether each of the following statements is true or false by writing T or F in the answer column. 1. While the term malpractice is usually applied to physicians, dentists, attorneys, and...
-
Elnaz paid $ 1 8 0 , 0 0 0 for a building in the current year. She also paid commissions of $ 2 , 8 0 0 , transfer fee of $ 1 5 0 , survey fee of $ 1 0 0 , appraisal fees of $ 8 5 0 , and title...
-
what is the variable manufacturing cost? ( sales revenue is 3 8 5 , 6 0 0 ) ( direct material cost is 9 6 , 8 0 0 ) ( direct labor costs is 4 9 , 2 0 0 ) ( variable manufacturing overhead 2 5 , 4 0 0...
-
Knox Jewelers issued $1,000,000 of 8% interest bearing debt at the beginning of the year. The company reported net income before interest and taxes of $2,000,000 for the current year. Assuming a 40%...
Study smarter with the SolutionInn App