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26-01-2024
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Under the Securities Act of 1933, which of the following must be proved by a purchaser of the security to successfully sue the auditor?

〇 Reliance on the Financial Statements, but no Fraud by the CPA
〇 Reliance on the Financial Statements and Fraud by the CPA
〇 Neither Reliance on the Financial Statements nor Fraud by the CPA
〇 No reliance on the Financial Statements, but Fraud by the CPA

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