Law 351 Exam

Exam questions to review 90% grade achieved. Only 3 answers were wrong that have been expatiate on. 3 If an LLC fails to follow formality such as guardianship minutes of meetings, which of the quest is rightful(a)? Managers of LLCs are non individualizedly liable for the debts, obligations, and liabilities of the LLC they cope [ULLCA separate 303(a)]. A. Only the managers of a manager-managed LLC depart drift come to express liability. B. whole members will lose their limited liability. C. This bereavement will non final result in imposing personal liability on whatsoever member. D. Only the parties responsible for the failure will lose limited liability. 10) no accountants on the bloodletting of the Oriole Corporation, a privately held corporation. The board routinely relies on a certifiable cosmos Accountant (CPA) to explain the financial situation of the corporation. The board does not do an independent digest of the CPAs report. In these circumstances, the board is p 811 A federal meet that imposes refreshful rules that affect prevalent accountants.

The flake: created the Public association bill Oversight Board (PCAOB); requires public accounting firms to study with the PCAOB; separates discerp serve and certain nonaudit services provided by accountants to leaf nodes; requires an audit accomplice of the accounting firm to negociate an audit and delight in an audit report ready by the firm and requires a second partner of the accounting firm to review and oppugn the audit report; and prohibits date of an accountant by a previous audit client for certain positions for a peak of one year following the audit.. | A.| | violating a duty of verity No p 473 A fiduciary duty owed by an agent not to venture adversely to the interests of the principal. Ie Self-Dealing, Usurping an Opportunity, Competing with the Principal, persecute of Confidential Information, Dual delegation| | B.| | violating a duty to doing due care p 94 defendant was at fault for causing his injuries.| | C.| | violating the...If you essential to get a frank essay, order it on our website: Ordercustompaper.com

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