A CPA who fraudulently performs a professional service will
A. Probably be liable to any person who suffered a loss as a result of the fraud.
B. Be liable only to the corporation and to third parties who are members of a class of intended users of the financial statements.
C. Probably be liable to the corporation even though its management was aware of the fraud and did not rely on the material misrepresentation.
D. Be liable only to third parties in privity of contract with the CPA.
Answer: A. Probably be liable to any person who suffered a loss as a result of the fraud.
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a. grammatical structure b. meaning c. length d. sound
With a 10% discount rate, the present value factor of $1 received 10 years from now is 0.386
The present value of a $1 annuity factor for 10 years is 6.145. Given these values, the present value of a $1,000 (par), 10-year corporate bond with a 12% coupon rate is A) $6,191.32. B) $1,586.00. C) $1,123.40. D) $1,000.50