PracticeQuiz content is free on an ad-supported model.

Unfortunately, we can't support ad blocker usage because of the impact on our servers. If you'd like to continue, please disable your ad blocker and reload page.

Reload page

Forensic Accounting

Category - Specialized Forensic Knowledge

Start a Study Session Sign up for Question of the Day

Which of the following is TRUE about misstatements?

These are allowed in certain instances
These only relate to auditing financial statements
Misstatements can be of two types
None of the above

Explanation

Answer: C - There are two types of misstatements; statements arising from fraudulent financial reporting and the misappropriation of financial assets. Both are considered when evaluating financial statements of an entity.

Was this helpful? Upvote!

Start a Study Session Sign up for Question of the Day

Forensic Accounting

Top questions

Related questions

Most popular on PracticeQuiz

Ad-Blocker not supported

Forensic Accounting

Top questions

Related questions

Most popular on PracticeQuiz