Practice Quiz

Forensic Accounting

Category - Specialized Forensic Knowledge

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What is scienter in relation to financial statements?
  1. Disregarding the truthfulness of information
  2. Statement of Financial Position
  3. Statement of Owner’s Equity
  4. Notes to the Financial Statements
Explanation
Answer: A - Scienter is the disregard of the truthfulness of financial statements. This is also known as false representation.
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