C254 ACCT 6000
Fraud & Forensic Accounting
OBJECTIVE ASSESSMENT GUIDE
Q&S
©WGU 2024/2025
, 1. Question: Which of the following is the primary objective of
forensic accounting?
- A) Tax preparation
- B) Audit compliance
- C) Litigation support
- D) Financial Planning
Correct Answer: C) Litigation support
Rationale: Forensic accounting primarily involves
investigating financial discrepancies to support legal proceedings.
2. Question: Which of the following techniques is commonly
used to uncover fraud in financial statements?
- A) Ratio analysis
- B) Journal entries review
- C) Cash flow assessment
- D) All of the above
Correct Answer: D) All of the above
Rationale: All of these techniques can reveal anomalies or
patterns indicative of fraudulent activities.
3. Question: Which of the following is NOT a common type of
fraud encountered in forensic accounting?
- A) Asset misappropriation
- B) Financial statement fraud
- C) Tax evasion
- D) Systems development fraud
Correct Answer: D) Systems development fraud
Rationale: While asset misappropriation, financial statement
fraud, and tax evasion are well-documented types of fraud,
systems development fraud is less commonly referenced in
forensic accounting.
©WGU 2024/2025
Fraud & Forensic Accounting
OBJECTIVE ASSESSMENT GUIDE
Q&S
©WGU 2024/2025
, 1. Question: Which of the following is the primary objective of
forensic accounting?
- A) Tax preparation
- B) Audit compliance
- C) Litigation support
- D) Financial Planning
Correct Answer: C) Litigation support
Rationale: Forensic accounting primarily involves
investigating financial discrepancies to support legal proceedings.
2. Question: Which of the following techniques is commonly
used to uncover fraud in financial statements?
- A) Ratio analysis
- B) Journal entries review
- C) Cash flow assessment
- D) All of the above
Correct Answer: D) All of the above
Rationale: All of these techniques can reveal anomalies or
patterns indicative of fraudulent activities.
3. Question: Which of the following is NOT a common type of
fraud encountered in forensic accounting?
- A) Asset misappropriation
- B) Financial statement fraud
- C) Tax evasion
- D) Systems development fraud
Correct Answer: D) Systems development fraud
Rationale: While asset misappropriation, financial statement
fraud, and tax evasion are well-documented types of fraud,
systems development fraud is less commonly referenced in
forensic accounting.
©WGU 2024/2025
