1. Explain the lessons learned from the Enron case. In addition,state the rule learned from the famous case of Meinhard v. Salmon and provide an example of the rule's applicability.

2. What are the main advantages to a debtor to file a Chapter 13 petition in Bankruptcy instead of a Chapter 7 petition?

3. Explain if, and why an accountant will be held liable to its client, 3rd party intended users of the financial statements and audits it prepares for its client, and to reasonable foreseeable users of the work it prepared for its client. Be sure to identify who reasonable foreseeable users would be and why they areincluded.