Which of the following is TRUE?

A) An advisor can only be sued in contract.
B) An advisor can only be sued in tort.
C) An advisor can only be sued for breach of fiduciary duty.
D) An advisor can be sued in both tort and contract.
E) An advisor can be sued in tort, in contract, and for breach of fiduciary duty.


E

Business

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Which type of investment, if any, could be classified as short- or long-term, as well as debt or equity?

A) Available-for-sale securities B) Trading securities C) Held-to-maturity securities D) None of these are correct.

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The income statement links the beginning and ending balance sheets

Indicate whether the statement is true or false

Business

In an activity flexible budget, the fixed cost component typically correspond to

A) resources that vary with direct labor hours. B) resources that vary as the activity output changes. C) resources acquired in advance of usage. D) resources acquired as needed. E) none of these.

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Which of the following is an incorrect statement regarding a joint venture?

A) Partnerships can form a joint venture. B) Corporations cannot form a joint venture. C) Individuals can form a joint venture. D) Joint ventures are a popular way for developing nations to attract foreign capital.

Business