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 rationalizationAbsence of effective and efficient internal controlsAvailability of suitable targetsSupply of motivated and willing offendersAll the aboveNone 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.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 millionProject earnings after the trial were $500,000Discounting was $450,000Required: 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)$5,250,000$4,250,500$3,350,500None of the above

Hi student Since there are multiple questions, we will answer only first question.

Answered: The Australian Institute of Criminology…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

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.

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)