The Fraud Examiner or Forensic Accountant Should Understand That the Opposing

question 1

Multiple Choice

The fraud examiner or forensic accountant should understand that the opposing lawyer will NOT:

• A) Learn your field
• B) Agree with your conclusions
• C) Know your report
• D) Know your resume

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Definitions:

Bankruptcy

A legal procedure for dealing with debt problems of individuals or businesses; officially declared inability to pay off debts.

Liable

Being legally responsible for a particular act or omission, usually involving payment of damages or compliance with specific court orders.

Suretyship

A contractual agreement in which one party (surety) guarantees the obligations of a principal to a third party.

Guaranty

Guaranty is a legal commitment by a guarantor to pay a debt or perform an obligation if the original debtor fails to do so.