A fiduciary duty exists in which of the following business relationships?

A) business partners to each other
B) directors of a corporation to the corporation
C) a professional advisor such as an accountants to their clients
D) agent to a principal
E) all of the above

E

Business

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Most top managers:

A. prefer non-quantifiable, directional goals. B. prefer non-quantifiable, but verifiable goals. C. prefer verifiable objectives. D. have no preference as to quantifiable and non-quantifiable goals. E. prefer non-directional, but verifiable goals.

Business

The income effect of a change in reporting entity is shown separately in the income statement in the year of the change.

a. true b. false

Business