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Under the Securities Act of 1933, which of the following burdens of proof on the auditor is incorrect? The audit was conducted with due diligence.

Under the Securities Act of 1933, which of the following burdens of proof on the auditor is incorrect?

The audit was conducted with due diligence.

The auditor relied on the registration.

The losses were not caused by material misstatements.

The statute of limitations has expired.

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