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Accounting Test: Section - A:: Correct Option
Accounting Test: Section - A:: Correct Option
Section A:
Question Correct
Option
1 C
2 B
3 D
4 B
5 D
Section B:
Question No. 1:
Opening Capital + Interest on Opening Capital = Closing Capital + Drawings Profit during
year
X (1.12) = $99,000
Hence,
Limitation:
Question No. 2:
Like the general accounting investigation, the forensic accounting has same procedure to
investigate the crime potential fraud or misappropriation from an internal whistle-blower of
alleged improprieties by a member of the Executive team but with special approach. First,
the planning was made to investigate and the data will be collected about cash receipt issued
by organization. The accounting records includes General ledger, sub-ledger, financial
management reports, reconciliation statements, journal management reports, and computer
system and security system records. After, collection of record through public records search,
the investigation will be performed according to the record, loss suffered will be produced
and investigation team will make a concrete report. In court proceeding stage the guilty
person will be proceeded in court. The reason and evidence will be presented to prove the
suspects.