Practice Quiz

Forensic Accounting

Category - Specialized Forensic Knowledge

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Which of the following is INCORRECT?
  1. GAAP ceases to apply when a company approaches an instance of bankruptcy
  2. Bankruptcy-related engagements have become specialized
  3. Bankruptcy does not affect the financial position of a company
  4. Bankruptcy has its own court system
  5. Family law incorporates marital disputes
  6. Family law involves calculating professional goodwill
  7. Family law is more favorable to the spouse earning more money
  8. Family law deals with child support
Explanation
Answer: C - Family law is not more favorable to the spouse who earns more money. Family law involves marital disputes, professional goodwill, and child support. Earnings is evaluated, but does not serve as a basis for determining child support.
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