Explain Section 552 of the Restatement (Second) of Torts
What will be an ideal response?
Section 552 of the Restatement (Second) of Torts provides a broader standard for holding accountants liable to third parties for negligence than the Ultramares doctrine. Under this standard, an accountant is liable for his or her negligence to any member of a limited class of intended users for whose benefit the accountant has been employed to prepare the client's financial statements or to whom the accountant knows the client will supply copies of the financial statements. In other words, the accountant does not have to know the specific name of the third party. Many states have adopted this standard.
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Charitable contributions subject to the 50% limit that are not fully deductible in the year made may be
a. Neither carried back nor carried forward. b. Carried back 3 years or carried forward 15 years. c. Carried forward 5 years. d. Carried forward indefinitely until fully deducted.
What is the most logical explanation that retailers carry private-label brands?
A) to eliminate the need for competitive advantages B) to encourage transaction marketing C) to support trade promotions D) to earn more profit E) to prevent sales cannibalization