Question
1)In Grant Thornton v. Prospect High Income Fund , Grant used each of the following points to defend itself against legal liability except: a)There was
1)InGrant Thornton v. Prospect High Income Fund, Grant used each of the following points to defend itself against legal liability except:
a)There was no evidence of the loss suffered by the plaintiffs
b)There was no evidence of a causal connection between Grant's alleged misrepresentation and the funds' alleged injury
c)There was no evidence of actual and justifiable reliance
d)Liability for fraudulent misrepresentations runs only to those whom the auditor knows and intends to influence, all of which was not present
2)The accounting issue(s) in the Crazy Eddie case were:
a)Off-balance sheet entities
b)Inflating inventory and net income
c)Capitalizing costs that should have been expensed
d)Accelerating revenues into earlier periods
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