Carol Perez was a partner in the accounting firm of Lee, Park and Perez LLP. Carol defrauded a client of $3,000,000. If the client successfully sued for fraud, the client can claim against
A) the assets of the firm only
B) the assets of the firm and Carol Ng's personal assets only
C) the assets of the firm and all of the partners' personal assets
D) the assets of all the partners but not the firm's assets
E) only the insurance provider for the firm
C
You might also like to view...
Federal, state, and local laws require employers to maintain detailed and accurate payroll accounting records
Indicate whether the statement is true or false
Describe Aggreko's core business with specific reference to which of the six service delivery options they employ
What will be an ideal response?
Decentralized control is characterized by reliance on all of the following, EXCEPT _______.
A. self-control B. peer group C. corporate culture D. employee selection and socialization E. the quality control department
Nash, Owen, and Polk are co-sureties with maximum liabilities of $40,000, $60,000, and $80,000, respectively. The amount of the loan on which they have agreed to act as co-sureties is $180,000. The debtor defaulted at a time when the loan balance was $180,000. Nash paid the lender $36,000 in full settlement of all claims against Nash, Owen, and Polk. The total amount that Nash may recover from Owen and Polk is
A. $0 B. $24,000 C. $28,000 D. $140,000