Asked by
EDGARDO MEDINA
on Nov 21, 2024
Verified
When an accountant is found liable for fraud, what type of damages may be assessed in addition to compensatory damages in order to punish the accountant?
A) Punishable
B) Punitive
C) Material
D) Nominal
E) Incidental
Punitive Damages
Monetary compensation awarded to an aggrieved party that goes beyond what is necessary to compensate for losses, intended to punish the wrongdoer.
Compensatory Damages
Monetary damages awarded to a plaintiff to compensate for actual loss or injury.
- Distinguish among the legal principles of negligence, fraud, and breach of contract in relation to accountants.
Verified Answer
BL
Learning Objectives
- Distinguish among the legal principles of negligence, fraud, and breach of contract in relation to accountants.
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