Select the necessary words from the list of possibilities to complete the following statements. StatementsAnswer1. An __________ is the written contract summarizing the relationship between the auditors and the client.2. When CPAs are associated with __________ financial statements, a possibility exists that the client may misinterpret the extent of the CPAs' services and believe that the accountants are acting as auditors.3. The __________ case, a landmark case of liability under the Securities Act of 1933, involved criticism of the auditors' review for subsequent events.4. Under the Securities Act of 1933, initial purchasers of securities may sue the auditors for misleading audited financial statements and need not prove that they relied on the financial statements. The burden of proof is on the auditors to prove that they were __________ in the performance of their work.5. When damage to another is directly attributable to a wrongdoer's act, __________ is said to exist.