Spouse and Family Income

The amount of raw materials that must be purchased can be computed by the following formula: Beginning inventory + Materials required - Ending inventory

Indicate whether the statement is true or false

The accounting firm of Gray & Co did accounting work for both Regional Bank and Carter Electronics. Without Carter's knowledge or approval, Gray & Co discussed Carter's financial problems with Regional Bank. In this situation, Gray & Co A) breached a legal obligation to keep all client information confidential

B) breached a moral, but not a legal, obligation of confidentiality. C) did not breach any obligations to its clients. D) acted properly because it was protecting its client, Regional Bank, from possibly making an unwise loan to Carter Electronics.