This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The King Surety Company wrote a general fidelity bond covering thefts of assets by the employees of ... (Read 40 times)

wqwpfwpoefnpwenf

  • Full Member
  • ***
  • Posts: 159
on: Aug 21, 2022
The King Surety Company wrote a general fidelity bond covering thefts of assets by the employees of Wilson, Inc. Thereafter, Cooney, an employee of Wilson, embezzled $17,200 of company funds. When the activities were discovered, King paid Wilson the full amount in accordance with the terms of the fidelity bond, and then sought recovery against Wilson's auditors, Lynch & Merritt, CPAs. Which of the following would be Lynch & Merritt's best defense?
◦ King is not in privity of contract.
◦ The shortages were the result of clever forgeries and collusive fraud which would not be detected by an examination made in accordance with generally accepted auditing standards.
◦ Lynch & Merritt were not guilty either of gross negligence or fraud.
◦ Lynch & Merritt were not aware of the King-Wilson surety relationship.
Auditing and Assurance Services ¦ Arens, Elder, Beasley, Hogan ¦ 17th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by wqwpfwpoefnpwenf on Aug 21, 2022

SphnxKickin

  • Full Member
  • ***
  • Posts: 165
Reply #1 on: Aug 21, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 29% of students answer this correctly


wqwpfwpoefnpwenf

  • Member
  • Posts: 159
Reply 2 on: Aug 21, 2022
:D TYSM

bigcheese9

  • Member
  • Posts: 333
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

Human stomach acid is strong enough to dissolve small pieces of metal such as razor blades or staples.

Did you know?

Cocaine was isolated in 1860 and first used as a local anesthetic in 1884. Its first clinical use was by Sigmund Freud to wean a patient from morphine addiction. The fictional character Sherlock Holmes was supposed to be addicted to cocaine by injection.

Did you know?

A strange skin disease referred to as Morgellons has occurred in the southern United States and in California. Symptoms include slowly healing sores, joint pain, persistent fatigue, and a sensation of things crawling through the skin. Another symptom is strange-looking, threadlike extrusions coming out of the skin.

Did you know?

Drugs are in development that may cure asthma and hay fever once and for all. They target leukotrienes, which are known to cause tightening of the air passages in the lungs and increase mucus productions in nasal passages.

Did you know?

To maintain good kidney function, you should drink at least 3 quarts of water daily. Water dilutes urine and helps prevent concentrations of salts and minerals that can lead to kidney stone formation. Chronic dehydration is a major contributor to the development of kidney stones.

A king cheetah showing its distinctive coat pattern A king cheetah showing its distinctive coat pattern
Different parts of the body mature at different rates. “General” refers to the body as a whole: the Different parts of the body mature at different rates. “General” refers to the body as a whole: the
Electron sharing in covalent bond Electron sharing in covalent bond
A dead-blow hammer that was left outside in freezing weather. The plastic covering was damaged, ... A dead-blow hammer that was left outside in freezing weather. The plastic covering was damaged, ...
Hydrogen bond Hydrogen bond
Jia's Fashions recently paid a $2 annual dividend. The company is projecting that its ... Jia's Fashions recently paid a $2 annual dividend. The company is projecting that its ...
Video: Introduction to Insulin

For a complete list of videos, visit our video library