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WGU C254 Fraud & Forensic Accounting, BUNDLE.
(Top QUALITY 2024/2025 EXAM REVIEW) WGU C254 Fraud & Forensic Accounting, Questions and answers, 100% Accurate. VERIFIED.
[Show more](Top QUALITY 2024/2025 EXAM REVIEW) WGU C254 Fraud & Forensic Accounting, Questions and answers, 100% Accurate. VERIFIED.
[Show more]C254 WGU Practice Review, Questions 
and answers, 100% Accurate. VERIFIED. 
In the past (early 20th century time-frame), what was the general consensus of the principal purpose of 
audits (including among auditors)? 
To detect fraud 
To certify for the public that management is qualified to run th...
Preview 4 out of 69 pages
Add to cartC254 WGU Practice Review, Questions 
and answers, 100% Accurate. VERIFIED. 
In the past (early 20th century time-frame), what was the general consensus of the principal purpose of 
audits (including among auditors)? 
To detect fraud 
To certify for the public that management is qualified to run th...
WGU C254 - Fraud and Forensic 
Accounting, Questions and answers, Rated 
A+ 
the usual penalty in a civil case is - -Monetary Damages and Equitable Releif 
The burden of proof in a criminal case is - -beyond a reasonable doubt 
which of the following is a source of law in the United States? Case l...
Preview 2 out of 10 pages
Add to cartWGU C254 - Fraud and Forensic 
Accounting, Questions and answers, Rated 
A+ 
the usual penalty in a civil case is - -Monetary Damages and Equitable Releif 
The burden of proof in a criminal case is - -beyond a reasonable doubt 
which of the following is a source of law in the United States? Case l...
WGU C254 - Fraud and Forensic 
Accounting, Questions and answers, 
rated A+ 
(Economic downturn 2008 to 2013) 
Most economists agree that __________ and _________ were the root causes of the economic 
downturn. - -- sub-prime mortgages 
- other risky financial instruments 
Financial statements pr...
Preview 3 out of 23 pages
Add to cartWGU C254 - Fraud and Forensic 
Accounting, Questions and answers, 
rated A+ 
(Economic downturn 2008 to 2013) 
Most economists agree that __________ and _________ were the root causes of the economic 
downturn. - -- sub-prime mortgages 
- other risky financial instruments 
Financial statements pr...
WGU C254 Fraud & Forensic 
Accounting, Questions and answers, 
100% Accurate. VERIFIED. 
America's capital markets are the envy of the world because of their efficiency, liquidity, and resiliency. 
What role do financial statements play in American capital markets? - -They present a fair picture...
Preview 2 out of 12 pages
Add to cartWGU C254 Fraud & Forensic 
Accounting, Questions and answers, 
100% Accurate. VERIFIED. 
America's capital markets are the envy of the world because of their efficiency, liquidity, and resiliency. 
What role do financial statements play in American capital markets? - -They present a fair picture...
WGU C254 Fraud and Forensic 
Accounting, Questions and answers, 
Rated A+ 
Which action is potentially unethical because it understates COGS? 
A. Understating purchases 
B. Understating purchase returns 
C. Understating ending inventory 
D. Understating purchase discounts - -A 
Why is it unethical...
Preview 2 out of 13 pages
Add to cartWGU C254 Fraud and Forensic 
Accounting, Questions and answers, 
Rated A+ 
Which action is potentially unethical because it understates COGS? 
A. Understating purchases 
B. Understating purchase returns 
C. Understating ending inventory 
D. Understating purchase discounts - -A 
Why is it unethical...
WGU C254 Fraud & Forensic, Questions 
and answers, 100% Accurate. VERIFIED. 
Which of the following are the four areas of the fraud exposure rectangle - -Management and 
Directors 
Relationship with others 
Organization & Industry 
Financial Results & Operational Characteristics 
To detect fraud,...
Preview 2 out of 5 pages
Add to cartWGU C254 Fraud & Forensic, Questions 
and answers, 100% Accurate. VERIFIED. 
Which of the following are the four areas of the fraud exposure rectangle - -Management and 
Directors 
Relationship with others 
Organization & Industry 
Financial Results & Operational Characteristics 
To detect fraud,...
WGU C254 - Fraud and Forensic Accounting 
Questions and answers, 100% Accurate, 
Rated A+ 
What are three ratios that are useful for detecting Overstatement of Asset Fraud? - -1. Individual FA 
account balances/Total FAs 
2. Total Def Chgs/Total Assets 
3. Def Chg W-offs (amort)/Def Chg Bal 
What...
Preview 3 out of 17 pages
Add to cartWGU C254 - Fraud and Forensic Accounting 
Questions and answers, 100% Accurate, 
Rated A+ 
What are three ratios that are useful for detecting Overstatement of Asset Fraud? - -1. Individual FA 
account balances/Total FAs 
2. Total Def Chgs/Total Assets 
3. Def Chg W-offs (amort)/Def Chg Bal 
What...
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