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Which of the following statements regarding the fiduciary standard and suitability standard is correct? ...

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Question

Accounting

Which of the following statements regarding the fiduciary standard and suitability standard is correct?

A)

Both standards require the fiduciary duty of loyalty when working with clients.

B)

Both standards require looking out for a client's best interest.

C)

Both standards are essentially the same with no meaningful differences between the two.

D)

Both standards are primarily solution-driven rather than product-driven.

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