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When a Person Who Makes a Misrepresentation Has No Knowledge

question 9

Multiple Choice

When a person who makes a misrepresentation has no knowledge about the falsity of the claim,it is said that the person lacked ____.


Definitions:

Prior Period

Referring to a previous time frame in financial reporting or analysis.

Unusual Item

A term used in financial accounting to refer to gains or losses that are infrequent or unusual in nature, not part of the company's ordinary operations.

Accounting Method

A set of rules used to determine when and how income and expenses are reported in the financial statements.

Business Segment

A distinct part of a company that can be separated for analyzing its financial performance, often by product line or geographical location.

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