Question 31 For a plaintiff to prevail against an auditor under the Securities Act of 1933, the plaintiff must prove which of the following? 1. Losses were incurred 2. There was a material misstatement or omission in the financial statements 3. The auditor was negligent 4. The plaintiff relied on the financial statements 5. The auditor was grossly negligent or committed fraud. 1 and 2 O 1, 2, 3, and 5 O 1, 2, and 4 2 pts O 1, 2, 3 and 4

For a plaintiff to prevall against an auditor under the Securities Act of 1933, the plaintiff must prove. which of the following? 1. Losses were incurred 2. There was a material misstatement or omission in the firancial statements 3. The auditor was negligent 4. The plaintiff relied on the francial statements 5. The auditor was grossly negligent or committed fraud. 1 and 2 1,2,3, and 5 1,2 and 4 1,2,3 and 4