Which of the following is the best defense a CPA firm can assert in a suit for common law fraud resulting from preparation of a tax return?
A. Contributory negligence on the part of the client.
B. A disclaimer contained in the engagement letter.
C. Lack of privity.
D. Lack of scienter.
Answer: D. Lack of scienter.
Business
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Which of the following is the gold standard of enterprise resource planning products?
A) Oracle B) Microsoft C) Epicor D) SAP
Business
Inspecting the contents means that you do all but which of the following tasks?
A) Check enclosures received against enclosure notations. B) Record special mail. C) Keep envelopes until enclosures and addresses are accounted for. D) Check each document for address, signature, and date.
Business