The Australian Institute of Criminology (AIC) asserts that three factors can explain fraud. Which of the following
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Question:
The Australian Institute of Criminology (AIC) asserts that three factors can explain fraud. Which of the following is not considered as one of the factors asserted by the AIC?
- Pressure, opportunity, and rationalization
- Absence of effective and efficient internal controls
- Availability of suitable targets
- Supply of motivated and willing offenders
- All the above
- None of the above
- West Coast Baseball Association, Inc.’s, (WCBA) baseball stadium was destroyed by a tornado. WCBA and its insurance company disagreed on the amount to recover for the damages. As a result, you have been engaged as a forensic accountant to compute the amount recoverable for the damages after trial as an Exhibit to be presented in a court of law.
- $5,250,000
- $4,250,500
- $3,350,500
- None of the above
However, based on negotiations, the litigants (WCBA and the insurance company) have agreed on the following cost elements:
Projected earnings after trial, had the harmful event not occurred was $4,300,500 million
Project earnings after the trial were $500,000
Discounting was $450,000
Required:
Calculate the damages after the trial? (Hint: Use the Standard Formula for Damages calculations prescribed by the Federal Judicial Center’s Reference Manual on Scientific Evidence)
Related Book For
Income Tax Fundamentals 2019
ISBN: 9781337703062
37th edition
Authors: Gerald E. Whittenburg, Steven Gill
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