Items (a) through (f) relate to what a plaintiff who purchased securities must prove in a civil liability suit against a CPA. For each item, determine whether it must be proved assuming application of the following acts:
1. Only applies to Section 11 of the 1933 Securities Act.
2. Only applies to Section 10(b) of the Securities Exchange Act.
3. Applies to both acts.
4. Applies to neither of the acts.
The plaintiff security purchaser must prove:
a. Material misstatements were included in a filed document.
b. A monetary loss occurred.
c. Lack of due diligence by the CPA.
d. Privity with the CPA.
e. Reliance on the document.
f. The CPA had scienter.
(AICPA, adapted)