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Forensic Accounting

Category - Specialized Forensic Knowledge

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Which of the following is a precursor to the misstatement of financial statements?

Wrongful intent
Fraud
Error
All of the above

Explanation

Answer: D - The above-mentioned are precursors to the misstatement of financial statements. Fraud is a wrongful act done intentionally. Financial statement misstatements are caused by wrongful intent as well as fraud. Errors are not done intentionally.

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