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Study Resources (Accounting)

101. The _______________ Law states that there is approximately a 4.6 percent chance that the first digit in a number will be 9. 102. Sacramental communication is privileged communication in most states. 103. Hearsay evidence is not permitted in the courtroom. 104. The _______________ rule is one major exception to.
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21. I.R.C. Section 7525 provides that a taxpayer's communications made to federally authorized tax practitioners are privileged. 22. The tax privilege protection extends to communications between a tax practitioner and a client for the preparation of a tax return. 23. The tax privilege protection extends to criminal tax matters before.
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106. A motion of ________________ may be used to attempt to disqualify an expert witness. 107. ________________ reports are more subjective and rely more on the professional judgment of the expert. 108. At a ________________, which takes place outside a courtroom, witnesses are required to answer oral questions under oath..
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91. A Voir Dire challenge to an expert witness’s testimony refers to: 92. In the milestone Daubert case, the U.S. Supreme court characterized the Court’s function as that of: . 93. A regional package delivery company that was marginally profitable entered into a three-year contract with a national airline delivery.
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11. Although discounting damage amounts to their present value is a common practice for commercial damage estimates, they are seldom used in personal damage cases. 12. Selecting the appropriate discount rate in a personal injury case is essential to accurate measurement of damages in the case. 13. If an expert.
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101. Adversarial bias is best described as: 102. The type of adversarial bias that most accounting expert witnesses should guard against is: 103. In an effort to avoid adversarial bias, experts should: 104. Characteristics that most effective expert witnesses possess include all of the following except: 105. Describe the typical.
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1. Most antitrust cases deal with allegations of nationwide monopolies like the United States case against the Microsoft Corporation. 2. The United States Justice Department is the only entity that can bring antitrust cases against a business. 3. A private corporation can sue another corporation for alleged violations of federal.
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101. Lakeland Manufacturing Company has a patent on a high-pressure hydraulic valve. The valve is a major improvement in high-pressure hydraulic systems, and Lakeland has enjoyed a monopoly position in this product since its development several years ago. During the last twelve months, Davis Manufacturing has been making and selling.
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21. Association and causation are two terms that mean the same thing when used in connection with regression/correlation analysis. 22. Regression/correlation analysis is a very powerful tool in assessing cost behavior characteristics of accounting information. 23. Regression/correlation analysis is a very powerful tool in assessing cost behavior characteristics of accounting.
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41. Discovery sampling and digital analysis are inductive approaches. 42. The inductive approach, custom data mining, is used most often by larger organizations. 43. Discovery sampling is a deductive approach. 44. E-mails are not subject to subpoena. 45. E-mails are fairly easy to eliminate in a company as evidence material..
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51. Jones Lumber had an exclusive three-year supply agreement with Wood Construction. The contract called for lumber sales of $4,000,000 per year. After one year, Wood Construction canceled the contract without cause. The court found Wood Construction liable under the contract. Jones Lumber had average gross margins of 40 percent.
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41. Courts are expected to provide an important "gatekeeper" function in determining who may provide expert advice to the court. The United States Supreme Court case that gave rise to this function is the: 42. Under Daubert, attorneys may challenge prospective expert witnesses about: 43. In addition to Daubert case.
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31. Because demonstrative evidence has no probative value, there is no need to authenticate it in a technical sense. 32. The residuum rule means that no finding may be supported solely by hearsay evidence. 33. The drill-down functionality technique is a process of scanning evidential and case-related documents onto a.
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31. Two major theories of damage calculations are the "out-of-pocket" approach and the "reasonable certainty" approach. 32. Using the "out-of-pocket" approach, damages include not only the money invested but also other expenses such as increased costs. 33. Using the "benefit-of-the-bargain" approach, damages include not only the money invested but also.
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21. In calculating a damage estimate for a wrongful discharge case, job-related expenses would be added to the other items included in the damage estimate. 22. Job-related expenses would include such items as driving costs to and from the job, special work-related clothing, and union dues in a job-required union..
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11. The coefficient of determination describes the amount of variance that is explained by the linear relationship between the independent variable and the dependent variable. 12. If the sign of the "b" value in the regression line is negative, then the coefficient of correlation must be negative as well. 13..
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111. In a cost regression analysis the “b” value refers to the change in the value of the ________ variable given a specific change in the___________ variable. 112. The __________________________ measures the amount of “explained variance” provided by the regression analysis. 113. The Federal False Claims Act was enacted: 114..
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1. The admissibility of different forms of evidence varies widely from jurisdiction to jurisdiction. 2. Technical errors in the testimony of an expert witness can be an attack against the evidence of an accountant on cross-examination. 3. Forensic accountants convert financial clues, using the latest technology, into evidence admissible in.
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61. Georgetown Company's weekly store operating costs for a 10-week period had a value of $300,000 and a low value of $260,000. Sales volumes for the two weeks were $4,000,000 and $3,200,000 respectively. At a sales level of $3,500,000, the estimated store operating costs using the high-low method of cost.
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1. Accountants acting as consultants (who will not testify) are not protected from disclosure under the attorney work product doctrine. 2. Information reviewed by a testifying expert will not be subject to disclosure, including drafts of reports sent from and to the accounting expert. 3. Accountants appointed by a court.
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71. An expert witness uses regression/correlation analysis to evaluate the operating expenses of a client charged in an antitrust case. The results that are found do not match the expectations of the expert and the accounting professionals at the firm. A logical explanation for this might be: 72. The Coefficient.
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