Practice Quiz

Forensic Accounting

Category - Fundamental Forensic Knowledge

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Which method is used to obtain financial information if financial statements for the recent years have not been prepared?
  1. Use tax returns
  2. Ask client
  3. Make estimates
  4. All of the above
Explanation
Answer: A - When financial statements are not prepared, the best way to obtain the required information is to have a look at the tax returns. It is not plausible to ask the client, or make estimates for that matter.
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