4) Which statement is true? A.Meyer Sefton was the first forensic accountant. B.Forensic accounting probably had its genesis in Canada. C.In the United States, the first federal income tax law was passed in 1913. D. Maine legislated the first CPA law.

Answered: Which statement is true? A. Meyer…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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4) Which statement is true?

	A.	Meyer Sefton was the first forensic accountant.
	B.	Forensic accounting probably had its genesis in Canada.
	C.	In the United States, the first federal income tax law was passed in 1913.
	D.	Maine legislated the first CPA law.

Expert Solution

Step 1

Forensic accounting is the accounting which is used in the matters of fraudulent financial reporting. It is used in litigations or court to see whether the financial reporting fraud is involved or not.

In simple, this word is used in court related matters where financial frauds are possible.

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