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Forensic Accounting

Category - Fundamental Forensic Knowledge

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Low-balling means:

Output and performance is below-par
Practitioner engages in fraud
Misleading accounting estimates
Quoting low initial fee in hopes of securing more profitable projects in the future

Explanation

Answer: D - Low-balling is not deemed as illegal, yet it is discouraged. This is because it hinders objectivity and professionalism. The intent of the practitioners is to maximize profits without giving much attention to the fundamental principles related to planning and preparation.

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