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b. Under the 1933 Securities Act, which of the following must be proven by the purchaser of the security? Reliance on the Financial Statements Fraud

b. Under the 1933 Securities Act, which of the following must be proven by the purchaser of the security? Reliance on the Financial Statements Fraud by The CPA

(1) Yes Yes

(2) Yes No

(3) No Yes

(4) No No

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