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Answer both parts of this task. Part (i) is worth a maximum of 5 marks and Part (ii) is worth a maximum of 10 marks.
(i) List the elements of the tort of negligence.
(ii) Enrico is a mature age student who is half way through his Accounting Diploma course. He has let members of his soccer club believe that he is a qualified accountant and financial adviser. One month before the collapse of One-Up, an internet company, Enrico advised club members to buy every One-Up share they could. Neither he nor the members knew that most financial advisers had warned that One-Up was badly managed for some time. Several club members have lost a large sum of money because they followed Enrico's advice.
Explain giving reasons, whether they are likely to succeed in a legal action based on negligent misstatement. What are the implications of the Civil Liability Act (2002) in the area of negligent misstatement? (If there are none, simply state that this area is not specifically covered by the Act.)
Activity Cost Drivers An element of measurement for the stage (or quantity) of an activity that is performed within a business company. Hence, a movement cost driver represen
Tally & Co. incurred a pretax operating loss of $100,000 in its first year of operations for both financial reporting and income tax purposes. However, it expects to be profitable
Establish a budget and allocate funds in accordance with statutory and organisational requirements
Pre-acquisition dividends Pre-acquisition dividends may also arise in the following situations; 1 ) Where the holding company acquires the subsidiary company’s shares cum-div
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1. Lease vs. Buy Trasky Company is trying to decide whether it should purchase or lease a new automated machine to be used in the production of a new product. If purchased, the
Presentation method (formerly closing rate or net investment method) Under this method, the branch operates with a lot of degree of autonomy from the head office. This position i
How is Accounting information useful to A prospective Investor?
write a short note of concept and convention
You are considering whether to replace an existing flow meter in an ongoing operation. A change in the meter will have not affect revenues but will reduce costs. The existing meter
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