10) An individual who is not party to the contract between a CPA and the client, but who is known by

10) An
individual who is not party to the contract between a CPA and the client, but
who is known by both and is intended to receive certain benefits from the
contract is known as:
A) a third
party.
B) a common law
inheritor.
C) a tort.
D) a third-party
beneficiary.

11)
Laws that have been passed by the U.S. Congress and other governmental units
are:
A)
statutory laws.
B)
judicial laws.
C)
federal laws.
D)
common laws.

12)
The assessment against a defendant of the full loss suffered by a plaintiff
regardless of the extent to which other parties shared in the wrongdoing is
called:
A)
separate and proportionate liability.
B)
shared liability.
C)
unitary liability.
D)
joint and several liability.

13) The
assessment against a defendant of that portion of the damage caused by the
defendant’s negligence is called:
A) separate and
proportionate liability.
B) joint and
several liability.
C) shared
liability.
D) unitary
liability.

14) Fraud occurs
when:
A) a
misstatement is made and there is both knowledge of its falsity and the intent
to deceive.
B) a
misstatement is made and there is knowledge of its falsity but no intent to
deceive.
C) the auditor
lacks even slight care in the performance in performing the audit.
D) the auditor
has an absence of reasonable care in the performance of the audit.

15) Which of the
following most accurately describes constructive fraud?
A) Absence of
reasonable care
B) Lack of
slight care
C) Knowledge and
intent to deceive
D) Extreme or
unusual negligence without the intent to deceive

16) Which of the
following most accurately describes fraud?
A) Absence of
reasonable care
B) Lack of
slight care
C) Knowledge and
intent to deceive
D) Extreme or
unusual negligence without the intent to deceive

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