Which of the Following Is NOT One of the Three

question 22

Multiple Choice

Which of the following is NOT one of the three core skills of forensic accounting?

• A)Uncovering the facts
• B)Establishing the correct numbers
• C)Preventing future fraud
• D)Determining business value

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Definitions:

Equipment Account

An account on the balance sheet where the cost of purchasing equipment is recorded and progressively depreciated over time.

Specific Identification

An inventory costing method that tracks the actual cost of each individual item in inventory and assigns this cost to the goods sold.

FIFO Assumption

The First-In, First-Out method is an accounting assumption used to manage inventory and cost of goods sold, assuming the first items placed into inventory are sold first.

Subsidiary Shares

Shares owned by a parent company in a subsidiary, representing a controlling interest in that subsidiary.