Question

Multiple Choice Questions
1. Which of these describes the use of the formal fraud investigation to support the resolution of loss recovery issues?
a. Alone.
b. In conjunction with expert opinions and testimony.
c. As physical evidence.
d. None of the above.

2. Regarding the fraud investigation report, the investigator should:
a. Assume it will be challenged in court.
b. Prepare a different report for the court.
c. Assume that the investigation report will be protected under attorney-client privilege.
d. None of the above.

3. For income tax purposes, fraud losses may be classified as:
a. Deductions.
b. Offsets to adjusted gross income.
c. Both a and b.
d. None of the above.

4. Reconstructing financial records as part of a fraud investigation is:
a. Normally within the scope of the investigation.
b. Never within the scope of the investigation.
c. May be within the scope of the investigation.
d. Not an issue in fraud investigations.

5. Which of these is correct regarding trust fund taxes?
a. Must be remitted to the IRS the moment they are collected.
b. Belong to the company except in bankruptcy.
c. Belong to the employees and vest immediately in any company-offered pension plans.
d. None of the above.



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  • CreatedMarch 20, 2015
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