Required information

Multiple Choice Qu $4-30($Static$)[$LO $4-3]$

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Assume that in a particular audit the CPAs were negligent but not grossly negligent. Indicate whether they would be

"liable" or "not liable" for the following loss proximately caused by their negligence and determine that liability under the

various theories discussed and followed by different states:

Multiple Choice Qu $4-30($Static$)$ part g $[$LO $4-4]$

g$.$ Losses sustained by stockholders; suit brought under Sections $18($a$)$ and $10($b$)$ of the Securities Exchange Act of $1934.$