Which of the following statements best describes the primary difference between an audit and forensic accounting?
a. An audit has the focused responsibility to detect fraud in the client organization, while forensic accounting sets out to prevent fraud.
b. An audit has no responsibility for detecting fraud, while forensic accounting provides an audit specific to material fraud discovery.
c. An audit must follow Generally Accepted Auditing Standards, while the forensic accountant is bound to Generally Accepted Fraud Standards.
d. An audit utilizes sampling techniques to detect material misstatements, while forensic accounting examines the entire population of fraudulent transactions.
d
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Which of the following is not a requirement of budgeting?
a. Goals must be realistic and possible to attain. b. There must be accountability for actual results. c. Management must clearly define its objectives. d. The budget must not be changed under any circumstances.
Nonmetric analysis of variance examines the difference in the central tendencies of more than two groups when the dependent variable is measured on a nominal scale
Indicate whether the statement is true or false
When writing a resume, which of the following is not a mandatory component?
A) E-mail address. B) Contact information. C) Career objectives. D) None of the above.
Some characteristics of the judicial system and regulatory environment increase the frequency and severity of loss. This hazard is called
A) moral hazard. B) physical hazard. C) attitudinal hazard. D) legal hazard.