Reference no: EM133472910
Question
1. An accountant who conforms to generally accepted auditing standards and acts in good faith will most likely not be liable to a client for incorrect judgment.
True
False
2. A professional can be held liable for constructive fraud whether or not he or she acted with fraudulent intent.
True
False
3. Administrative agencies lack the time, the resources, and the expertise to make the detailed decisions required for regulation.
True
False
4. A business that engages in the transportation of radioactive materials is strictly liable for any injuries the activities cause only if the injured party proves that the business failed to exercise reasonable care.
True
False
5. To avoid liability for securities violations, an accountant must use due diligence in preparing a financial statement included in a registration statement-merely asking questions of a corporate officer or director meets this standard.
True
False
6. The definition of security in the Securities Act of 1933 includes interests that involve the right to buy a security on a national security exchange.
True
False
7. The president can limit the power of an administrative agency through the power to appoint its officers.
True
False
8. Blu-ray producers cannot jointly lobby Congress to change the copyright laws without being held liable for attempting to restrain trade.
True
False
9. Under the nuisance doctrine, a person may be held liable for complaining about another's use of his or her property.
True
False
10. Notice-and-comment rulemaking involves regulators noticing a situation that lacks a rule, commenting on it, and then issuing a rule.
True
False
11. An accountant who conforms to generally accepted auditing standards and acts in good faith will most likely not be liable to a client for incorrect judgment.
True
False
12. A professional can be held liable for constructive fraud whether or not he or she acted with fraudulent intent.
True
False
13. Administrative agencies lack the time, the resources, and the expertise to make the detailed decisions required for regulation.
True
False
14. A business that engages in the transportation of radioactive materials is strictly liable for any injuries the activities cause only if the injured party proves that the business failed to exercise reasonable care.
True
False
15. To avoid liability for securities violations, an accountant must use due diligence in preparing a financial statement included in a registration statement-merely asking questions of a corporate officer or director meets this standard.
True
False
16. The definition of security in the Securities Act of 1933 includes interests that involve the right to buy a security on a national security exchange.
True
False
17. The president can limit the power of an administrative agency through the power to appoint its officers.
True
False
18. Blu-ray producers cannot jointly lobby Congress to change the copyright laws without being held liable for attempting to restrain trade.
True
False
19. Under the nuisance doctrine, a person may be held liable for complaining about another's use of his or her property.
True
False
20. Notice-and-comment rulemaking involves regulators noticing a situation that lacks a rule, commenting on it, and then issuing a rule.
True
False
21. An accountant who conforms to generally accepted auditing standards and acts in good faith will most likely not be liable to a client for incorrect judgment.
True
False
22. A professional can be held liable for constructive fraud whether or not he or she acted with fraudulent intent.
True
False
23. Administrative agencies lack the time, the resources, and the expertise to make the detailed decisions required for regulation.
True
False
24. A business that engages in the transportation of radioactive materials is strictly liable for any injuries the activities cause only if the injured party proves that the business failed to exercise reasonable care.
True
False
25. To avoid liability for securities violations, an accountant must use due diligence in preparing a financial statement included in a registration statement-merely asking questions of a corporate officer or director meets this standard.
True
False
26. The definition of security in the Securities Act of 1933 includes interests that involve the right to buy a security on a national security exchange.
True
False
27. The president can limit the power of an administrative agency through the power to appoint its officers.
True
False
28. Blu-ray producers cannot jointly lobby Congress to change the copyright laws without being held liable for attempting to restrain trade.
True
False
29. Under the nuisance doctrine, a person may be held liable for complaining about another's use of his or her property.
True
False
30. Notice-and-comment rulemaking involves regulators noticing a situation that lacks a rule, commenting on it, and then issuing a rule.
True
False
31. An accountant who conforms to generally accepted auditing standards and acts in good faith will most likely not be liable to a client for incorrect judgment.
True
False
32. A professional can be held liable for constructive fraud whether or not he or she acted with fraudulent intent.
True
False
33. Administrative agencies lack the time, the resources, and the expertise to make the detailed decisions required for regulation.
True
False
34. A business that engages in the transportation of radioactive materials is strictly liable for any injuries the activities cause only if the injured party proves that the business failed to exercise reasonable care.
True
False
35. To avoid liability for securities violations, an accountant must use due diligence in preparing a financial statement included in a registration statement-merely asking questions of a corporate officer or director meets this standard.
True
False
36. The definition of security in the Securities Act of 1933 includes interests that involve the right to buy a security on a national security exchange.
True
False
37. The president can limit the power of an administrative agency through the power to appoint its officers.
True
False
38. Blu-ray producers cannot jointly lobby Congress to change the copyright laws without being held liable for attempting to restrain trade.
True
False
39. Under the nuisance doctrine, a person may be held liable for complaining about another's use of his or her property.
True
False
40. Notice-and-comment rulemaking involves regulators noticing a situation that lacks a rule, commenting on it, and then issuing a rule.
True
False