Which of the Following Forensic Accounting Services Primarily Focuses on Determining

question 33

Multiple Choice

Which of the following forensic accounting services primarily focuses on determining who committed the fraud,the scheme of the fraud,the time frame and duration,how much was taken,and who else was involved?

• A) fraud detection
• B) fraud deterrence
• C) fraud examination
• D) fraud anticipation

Know how to describe the method or procedure for achieving the proposal's objectives.

Understand the importance of the problem statement in articulating the need for the proposed action or project.

Recognize the value of data, evidence, and logical argumentation in supporting proposal claims.

Learn how to craft a compelling executive summary.

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Definitions:

Ending Inventory

At the close of an accounting period, the value of products available for sale is calculated by taking the initial inventory, adding any purchases, and then deducting the cost of goods sold.

Cost Flow Assumption

An accounting method that determines the cost of goods sold and ending inventory valuation, examples include FIFO, LIFO, and weighted average.

LIFO

Last In, First Out, is an inventory valuation method assuming that goods purchased last are the first to be sold.

FIFO

First In, First Out, a method used in accounting to manage inventory and financial matters where the first items placed in inventory are the first sold or used.