Everett is an accountant whose clients include Finance & Capital, Inc Under the Ultramares rule, if Everett is negligent in his work for Finance & Capital, he could be liable to Finance & Capital and
A) any third party
B) no third party with whom the accountant is not in privity or "near privity."
C) third parties who are foreseen users of the work.
D) third parties who are reasonably foreseeable users of the work.
B
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Which one of the following steps in the accounting cycle is completed only at the end of an accounting period?
a. Business transactions are recorded. b. Adjustments are recorded. c. Transactions are journalized. d. Journal entries are posted to the ledger.
Which types of quality costs are incurred in the course of inspecting, identifying, and isolating defective products and services before they reach the customer?
A) Appraisal (detection) costs B) Prevention costs C) External failure costs D) Internal failure costs
A defendant who engages in setting off fireworks at a fully licensed Fourth of July show is liable for harm that results from the activity only if the plaintiff proves the harm was foreseeable
a. True b. False Indicate whether the statement is true or false
The Assembly Department of ZigZag, Inc, manufacturer of computers, incurred $280,000 in direct material costs and $70,000 in conversion costs
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