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Forensic Accounting

Category - Specialized Forensic Knowledge

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Which of the following is termed as the most common types of financial statement fraud?

SOFP
Improper revenue recognition
Inventory miscount
Bad debt

Explanation

Answer: B - Improper revenue recognition is the most common type of financial statement fraud. Revenue recognition is an accounting principle under GAAP that governs the conditions under which revenue is properly recognized and accounted for.

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Forensic Accounting

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Forensic Accounting

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