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questions 1-3 please 1. Which of the following best describes the term forensic accounting? A) It is a discipline that deals with the preparation and
questions 1-3 please
1. Which of the following best describes the term forensic accounting? A) It is a discipline that deals with the preparation and analysis of financial statements of companies. B) It is the use of accounting principles to consolidate financial statements of foreign corporations. C) It is a discipline that primarily deals with methods of preparation of financial budgets of a company D) It is the use of accounting theories, principles, or analyses in a legal action, often through expert witness testimony. 2. Which of the following situations shows Kelcie, a forensic accountant, exercising professional skepticism? A) Kelcie argues that the immediate previous year's records serve as a better basis for the investigation than the earlier years. B) Kelcie believes that the reputation of the external auditor is an indicator of the reliability of the audit report. C) Kelcie believes in the phrase "guilty, until proved otherwise" and does not presume innocence until she has reasonable doubt. D) Kelcie verifies the reports given by the internal auditor against available evidence before using it in her reports. 3. Which of the following statements is true of forensic accounting investigative services? A) These are provided in connection with actual, pending, or potential legal or regulatory proceedings-criminal or civil. B) These are only performed after a crime has occurred. C) These include fraud detection, fraud examination, and fraud deterrence. D) These generally involve actual or threatened litigationStep by Step Solution
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