Chapter 15- Consulting, Litigation support || A+ Graded.
The ability to ___________ is both an art and a science. correct answers Estimate damages
_________________ are those amounts designed to compensate the injured party for some
specific loss. correct answers Compensatory damages
Generally, at least four methodologies can be used to develop the risk-adjusted discount rate and
its related cash flows (income): CAPM, the bond-equity additive method, the build-up method,
and the _____________________. correct answers Weighted average cost of capital
The act, concealment, and conversion provide ___________________ for evaluating the
participation, intention, and actions of a party to litigation. correct answers A powerful
investigative basis
Forensic professionals understand that skilled fraudsters _______________ by altering
documents or limiting the amount and timing of data made available to the opposing side. correct
answers Often manipulate data
_____________ engagements are created to value a business, business ownership interest,
security, or intangible asset. Similar to the estimates associated with commercial damages, in the
case of these engagements, the work of the forensic accountant requires professional
___________________. correct answers Valuation; competence and judgment
Given the ________________ of fraud examination, litigation support, and forensic accounting
engagements, practicing professionals should expect their work product to be scrutinized closely,
and they should be prepared to describe and defend all choices made. correct answers
Adversarial nature
The measurement period for commercial damages related to torts can be more difficult because,
unlike breach of contract claims, _________________________. correct answers A preliminary
starting point is not available
One of the first steps in measuring commercial damages is determining _____________. correct
answers The loss period
Examinations, in essence, are where _________ intersects with _____________ of the anti-fraud
and forensic accounting profession. correct answers Evidence; the tools and techniques
The term ____________ is generally defined as used in or suitable to courts of law or public
debate correct answers Forensic
One of the most challenging issues associated with the discounted income and cash flows model
is ______________ income and cash flows ___________. correct answers Projecting; into the
future
The ability to ___________ is both an art and a science. correct answers Estimate damages
_________________ are those amounts designed to compensate the injured party for some
specific loss. correct answers Compensatory damages
Generally, at least four methodologies can be used to develop the risk-adjusted discount rate and
its related cash flows (income): CAPM, the bond-equity additive method, the build-up method,
and the _____________________. correct answers Weighted average cost of capital
The act, concealment, and conversion provide ___________________ for evaluating the
participation, intention, and actions of a party to litigation. correct answers A powerful
investigative basis
Forensic professionals understand that skilled fraudsters _______________ by altering
documents or limiting the amount and timing of data made available to the opposing side. correct
answers Often manipulate data
_____________ engagements are created to value a business, business ownership interest,
security, or intangible asset. Similar to the estimates associated with commercial damages, in the
case of these engagements, the work of the forensic accountant requires professional
___________________. correct answers Valuation; competence and judgment
Given the ________________ of fraud examination, litigation support, and forensic accounting
engagements, practicing professionals should expect their work product to be scrutinized closely,
and they should be prepared to describe and defend all choices made. correct answers
Adversarial nature
The measurement period for commercial damages related to torts can be more difficult because,
unlike breach of contract claims, _________________________. correct answers A preliminary
starting point is not available
One of the first steps in measuring commercial damages is determining _____________. correct
answers The loss period
Examinations, in essence, are where _________ intersects with _____________ of the anti-fraud
and forensic accounting profession. correct answers Evidence; the tools and techniques
The term ____________ is generally defined as used in or suitable to courts of law or public
debate correct answers Forensic
One of the most challenging issues associated with the discounted income and cash flows model
is ______________ income and cash flows ___________. correct answers Projecting; into the
future
