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Jones, CPA, is in court defending himself against a lawsuit filed under the 1934 Securities Act. The charges have been filed by purchasers of securities

Jones, CPA, is in court defending himself against a lawsuit filed under the 1934 Securities Act. The charges have been filed by purchasers of securities covered under that act. If the purchasers prove their required elements, in general, Jones will have to prove that:

The plaintiffs did not show him to be negligent. He is not guilty of gross negligence. He performed the audit with due diligence. He performed the audit with good faith.

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