1. Breach of contract remedies are available to third parties against accountants because they are ordinarily considered third party beneficiaries of contracts with accountants. (True or False)

2. An accountant cannot be held liable for turning a blind eye to suspicious issues and items. (True or False)

3. Shareholders indirectly determine the management policies of the business. (True or False)

4. When a meeting opens with a quorum, the quorum is broken if shareholders leave and those remaining are not sufficient to constitute a quorum. (True or False)

5. Directors do not have the right to evaluate management's performance. (True or False)

4. Under the known-user rule the identity of the particular user must be known to hold accountants liable for malpractice. (True or False)

5.