In which of the following situations is an accountant considered to have aided and abetted violations of the Securities Exchange Act of 1934?
I. The accountant is generally aware of his or her participation in an improper activity or knowingly aids the activity.
II. The accountant is generally aware of his or her participation in an improper activity and knowingly aids the activity.
III. The accountant observes the activity and remains silent. This may constitute abetting.
II only.