Which of the following can help to mitigate the cost of professional negligence? a. Obtaining indemnity from the client b. Having a professional liability insurance c. Obtaining indemnity from the attorney d. All of the above
Which of the following can help to mitigate the cost of professional negligence? a. Obtaining indemnity from the client b. Having a professional liability insurance c. Obtaining indemnity from the attorney d. All of the above
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Which of the following can help to mitigate the cost of professional negligence?
a.
Obtaining indemnity from the client
b.
Having a professional liability insurance
c.
Obtaining indemnity from the attorney
d.
All of the above
Expert Solution

Step 1
Step 1
Professional negligence is a breach of the due diligence and care between professionals and their clients due to failure to perform the responsibilities as per required by law or standard as per requirement.
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