Which of the Following Are the Two Major Components of Forensic

question 10

Multiple Choice

Which of the following are the two major components of forensic accounting services?

• A) fraud detection services and fraud deterrence services
• B) expert services and consulting services
• C) investigative services and litigation services
• D) fraud examination services and business valuations services

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Definitions:

Standard Price

A predetermined cost for a unit of material, labor, or overhead anticipated in the budgeting process, against which actual costs are compared.

Actual Output

The real quantity of goods or services produced by a company, as opposed to planned or expected output.

Standard Variable Overhead Rate

The rate used in budgeting and costing that applies variable overheads to a specific activity basis such as labor hours.

Direct Labour Hours

The aggregate hours employees devoted to the process of production have logged.