Question

Quentin, an accountant, prepares for Ruff n" Reddy Concrete Corporation a financial state­ment that omits a material fact. The statement is included in Ruff n" Reddy's registration statement filed with the Securities and Exchange Commission. Timor, who reads the statement, and Ubi, who does not, each buy Ruff n" Reddy stock. Under Section 11 of the Securities Act of 1933, Quentin may be liable to
a. neither Timor nor Ubi.
b. Timor and Ubi.
c. Timor only.
d. Ubi only.

Answer

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