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Under the Securities Act of 1933, which of the following must be proved by a purchaser of the security to successfully sue the auditor? Group

Under the Securities Act of 1933, which of the following must be proved by a purchaser of the security to successfully sue the auditor?

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Reliance on the Financial Statements, but no Fraud by the CPA

Reliance on the Financial Statements and Fraud by the CPA

Neither Reliance on the Financial Statements nor Fraud by the CPA

No reliance on the Financial Statements, but Fraud by the CPA

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