1. Professionals are governed by the contracts they enter into with their clients.
True
False
2. Professionals are required to deliver services but the competency of the services is never an issue.
True
False
3. An accountant is not liable for an omission in a registration statement to a purchaser of securities if the omission had no causal connection to the purchaser's loss.
True
False
4. To be characterized as a good, an item must be tangible and it must be movable.
True
False