Chapter 10: ACC-4800-001

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ACC-4800

Quizzes

Chapter 10

Chapter 10
Instructions:
Questions 64 Questions Limits No Time Limit Unlimited Attempts Points 64 pts possible Due Date Jun 5 at 11am Availability Always available

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Score for this attempt: 23 out of 64 Submitted Jun 17 at 7:25pm This attempt took about 2 hours. Question 1: 1 pts 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: Enron case. 0% of points WorldCom case. 0% of points Daubert case. 100% of points All of the above. 0% of points 1/1 Question 2: 1 pts Under Daubert, attorneys may challenge prospective expert witnesses about: Whether the expert's theories in the case have been tested. 0% of points Whether the techniques used by the expert in the case are subject to peer review. 0% of points The expert's skills and background. 0% of points Whether the expert's testimony in the case represents "scientific knowledge." 0% of points All of the above. 100% of points 1/1 Question 3: 1 pts In addition to Daubert case challenges to an expert's testimony, another concept under which experts can be questioned about their skills, education, and competence is called: AICPA challenges. 0% of points Just plain mean challenges. 0% of points Internet challenges. 0% of points Voir dire challenges. 100% of points Gatekeeper rules. 0% of points 1/1 Question 4: 1 pts In order for damages to be assessed, the court must find: None of the above is correct. 0% of points Both a and c. 100% of points

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One of the parties is really bad. 0% of points There is liability in the case. 0% of points Criminal violations have occurred. 0% of points 1/1 Question 5: 1 pts The two types of harm that are the focus of damage cases are: Tort and breach of contract. 100% of points Good and bad. 0% of points High and low. 0% of points Short-term damages and long-term damages. 0% of points Restitution and reliability. 0% of points 1/1 Question 6: 1 pts Beth Company sold assets to Karen Company with an alleged value of $2,400,000. Beth Company paid $2,100,000 for the assets. The actual value of the assets was $1,700,000. Using the "out-of-pocket" damage loss rule, the fraud damages would be: $1,700,000. 0% of points $400,000. 100% of points $700,000. 0% of points None of the above is correct. 0% of points $2,400,000. 0% of points 1/1 Question 7: 1 pts Beth Company sold assets to Karen Company with an alleged value of $2,400,000. Beth Company paid $2,100,000 for the assets. The actual value of the assets was $1,700,000. Using the "benefit-of-the-bargain" damage loss rule, the fraud damages would be: $2,400,000. 0% of points None of the above is correct. 0% of points $1,700,000. 0% of points $400,000. 0% of points $700,000. 100% of points 1/1 Question 8: 1 pts When measuring lost profits or other damages, it is necessary for the plaintiff to: Prove that fraud was involved in the case. 0% of points Show that the defendant's actions clearly call for punitive damages. 0% of points Attempt to mitigate its damages. 100% of points Prove that there was no liability in the case. 0% of points 1/1 Question 9: 1 pts

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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 and average net income of 10 percent of sales. Jones Lumber's operating expenses average 70 percent fixed. The damages from the loss of this contract would be: $1,240,000. 0% of points $2,480,000. 100% of points $400,000. 0% of points $4,000,000. 0% of points None of the above is correct. 0% of points 0/1 Question 10: 1 pts 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 and average net income of 10 percent of sales. Jones Lumber's operating expenses average 70 percent fixed. The damages from the loss of this contract would be: None of the above is correct. 100% of points $400,000. 0% of points $760,000. 0% of points $4,000,000. 0% of points $1,240,000. 0% of points 0/1 Question 11: 1 pts 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 and average net income of 10 percent of sales. Jones Lumber's operating expenses average 70 percent fixed. Because of the lost contract, Jones Lumber carried $2,500,000 more in lumber inventory than it would have absent the contract. Storage, handling, and carrying cost of lumber inventory averages 12 percent at Jones Lumber. What if any amount would this fact add to your damage estimate in this case? None of the above is correct. 0% of points $480,000. 0% of points $760,000. 0% of points $600,000. 0% of points $300,000. 100% of points 0/1 Question 12: 1 pts Deposition testimony occurs during the: Trial stage of the case. 0% of points Discovery phase of the case. 100% of points Closing arguments in the case. 0% of points Initial pleadings in the case. 0% of points 1/1 Question 13: 1 pts Deposition testimony: Both a and c. 100% of points

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Requires both direct testimony and cross-examination testimony. 0% of points Is given under oath. 0% of points Is given in lieu of trial testimony. 0% of points Is taken during the discovery period of the case. 0% of points 1/1 Question 14: 1 pts During deposition testimony: There is both direct testimony and cross-examination testimony. 0% of points It never lasts more than four hours. 0% of points The attorney for the expert questions the expert witness. 0% of points Only the opposing attorney questions the expert witness. 100% of points 1/1 Question 15: 1 pts During cross-examination testimony, the opposing attorney may try to discredit the expert witness by questioning his or her: Education and professional background. 0% of points Models or methodologies used in the case. 0% of points All of the above are correct. 100% of points Data sources used in the case. 0% of points Expertise in this type of case. 0% of points 1/1 Question 16: 1 pts Cost behavior refers to: How managers behave in response to cost data. 0% of points How costs change with respect to management decisions. 0% of points How businesses behave in connection with cost changes. 0% of points How costs change with respect to changes in the volume of activity. 100% of points 1/1 Question 17: 1 pts Fixed costs are costs that: Increase directly and proportionately with volume. 0% of points Remain constant on a per unit basis as volume goes up and down. 0% of points Never change. 0% of points Go up and down on a per unit basis as volume decreases and increases. 100% of points 0/1 Question 18: 1 pts A simple but potentially useful method of estimating cost behavior is the: Scatter-gram method. 0% of points Regression-correlation method.

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0% of points By gut and by golly method. 0% of points High-low method. 100% of points 1/1 Question 19: 1 pts 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. The estimated variable cost per dollar of sales using the high-low method is: $0.1067 per sales dollar. 0% of points $0.05 per sales dollar. 100% of points $0.075 per sales dollar. 0% of points $0.08125 per sales dollar. 0% of points 0/1 Question 20: 1 pts 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. The estimated fixed cost using the high-low method is: $100,000. 100% of points $160,000. 0% of points $300,000. 0% of points $260,000. 0% of points 0/1 Question 21: 1 pts 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 analysis would be: $275,000. 100% of points $260,000. 0% of points $175,000. 0% of points $300,000. 0% of points 0/1 Question 22: 1 pts In analyzing cost behavior data for cases, most experts find that the most effective and defensible analysis method is: Scatter diagram. 0% of points Experienced employee information. 0% of points High-low. 0% of points Correlation-regression. 100% of points 1/1 Question 23: 1 pts Deposition testimony: None of the above. 0% of points Is practice for trial testimony. 0% of points Is not actually considered testimony.

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0% of points In some states is not given under oath. 0% of points Is always given under oath. 100% of points 1/1 Question 24: 1 pts During a deposition: All of the above. 100% of points None of the above. 0% of points All the questions are asked by an opposing attorney. 0% of points Everything the witness says is taken down and recorded. 0% of points The testimony is given under oath. 0% of points 1/1 Question 25: 1 pts During trial testimony: None of the above. 0% of points The judge can object to inappropriate questions. 0% of points Testimony is not recorded. 0% of points All questions during your testimony will be asked by an opposing attorney. 0% of points An attorney from your side will ask you questions. 100% of points 1/1 Question 26: 1 pts Daubert requirements: Were created to ensure quality expert testimony in federal courts. 100% of points Are used exclusively in state courts. 0% of points None of the above. 0% of points Relate to scientific experts but not to financial experts in cases. 0% of points Have little impact on cases. 0% of points 1/1 Question 27: 1 pts In order to win damages in a case, generally a plaintiff must prove: Liability and blame by the defendant. 0% of points None of the above. 0% of points Damages occurred and they were large. 0% of points The defendant was liable in the case and the liability resulted in damages. 100% of points There was no breach of contract. 0% of points 1/1 Question 28: 1 pts In tort cases, damages are determined based on the concept that:

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None of the above. 0% of points There was no liability, only damages. 0% of points The plaintiff in the case should be placed in a position economically equivalent to that absent the harm from the tort. 100% of points Only the incremental revenues resulting from the tort should be included. 0% of points All relevant costs resulting from the breach of contract should be included. 0% of points 0/1 Question 29: 1 pts Two major theories of damages are: "Out-of-pocket" and "reasonable certainty." 0% of points "Out-of-pocket" and "benefit-of-the-bargain." 100% of points None of the above. 0% of points "Benefit-of-the-bargain" and "lost profits." 0% of points "Benefit-of-the-bargain" and "reliance." 0% of points 0/1 Question 30: 1 pts The method of lost profit damages calculation that is best for mature businesses is: The "yardstick" or "benchmark" method. 0% of points The "but-for" method. 0% of points All of the above. 0% of points The "before-and-after" method. 100% of points None of the above. 0% of points 0/1 Question 31: 1 pts Most accounting damages in cases are estimated: Using economic experts to make future estimates. 0% of points All of the above. 0% of points Using historical cost data. 100% of points Using only estimated future accounting estimates. 0% of points 0/1 Question 32: 1 pts The primary determinants of the damage model used in a case are: The American Institute of Certified Public Accountant (AICPA) guidelines. 0% of points The guidelines provided by the Association of Certified Fraud Examiners (ACFE). 0% of points The American Bar Association (ABA) rules. 0% of points None of the above. 0% of points State laws in the state the case is being tried. 100% of points 0/1

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Question 33: 1 pts The lost profits method that best measures what a plaintiff would have done or accomplished without interference from the defendant is: The "before and after" method. 0% of points All of the above. 0% of points None of the above. 0% of points The "yardstick" method. 100% of points The "but-for" method. 0% of points 0/1 Question 34: 1 pts The lost profits method that is based upon a market model of sales projection created to compute lost profits is: None of the above. 0% of points The "but-for" method. 100% of points All of the above. 0% of points The "before and after" method. 0% of points The "yardstick" method. 0% of points 0/1 Question 35: 1 pts Typically the first step in the economic framework of estimating damages is: Company-specific analysis. 0% of points Macroeconomic analysis. 100% of points None of the above. 0% of points Industry analysis. 0% of points Financial analysis conclusions. 0% of points 0/1 Question 36: 1 pts

A summary judgment is:

A period technique used during the discovery phase of the case to periodically summarize the issues that have been present in the case. 0% of points Rendered at the end of the case after the judge/jury has heard and summarized all of the case testimony. 0% of points A seldom used trial technique in which an attorney attempts to summarize the case data as part of closing arguments. 0% of points An attempt by one or both sides in a case to ask the judge to accept their arguments in the case as correct and to render an opinion in the case in their favor without even going to trial. 100% of points 0/1 Question 37: 1 pts

During deposition testimony, the accounting expert witness is questioned by:

Both a and b. 0% of points The judge. 0% of points None of the above. 0% of points The experts attorney.

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0% of points The opposing attorney. 100% of points 0/1 Question 38: 1 pts

The following information pertains to Adena Company: Sales price per unit $90.00

Variable cost per unit $55.00 Total fixed costs After-tax income Tax ratae $250,000 $48,450 40%

Unit sales volume for the company must have been:

None of the above 0% of points 7,149 0% of points 8,527 0% of points 6,014 0% of points 9,450 100% of points 0/1 Question 39: 1 pts

If an expert witness is requested to provide rebuttal testimony in a case it will usually occur:
In civil cases but never during criminal cases. 0% of points Only at the request of the judge presiding at the trial. 0% of points During his deposition testimony. 0% of points During the trial to counter some testimony of a witness from the other side in the case. 100% of points 0/1 Question 40: 1 pts

Charlevoix Supply Company makes specialized products for automobile applications. Recently management introduced a new patented engine sensor device. The first year costs and revenues for the product were as follows: Selling price Direct materials Direct labor Variable MOH Total fixed MOH Variable selling and administrative $400 per unit $125 per unit $ 45 per unit $ 40 per unit $1,600,000 $ 30 per unit

Total fixed selling and administrative $500,000 Sales volume 25,000 units

During the second year of production and sales, the company only sold 12,000 units of product, because a competitor produced and sold an identical product. Charlevoix Supply has filed a law suit against the competitor for patent infringement. What is the contribution margin and the contribution margin ratio for this product?
$160 and 40.0 percent 100% of points None of the above 0% of points $160 and 60.0 percent

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0% of points $230 and 57.5 percent 0% of points $190 and 48.75 percent 0% of points 0/1 Question 41: 1 pts

Using the facts in question 80, assume the competitor is liable as alleged by Charlevoix Supply in the patent infringement law suit. What is the amount of
damages that Charlevoix Supply experienced during the second year of the new product as a result of the competitors patent infringement?
$110,000 0% of points $2,535,000 0% of points $2,080,000 100% of points None of the above 0% of points $2,650,000 0% of points 0/1 Question 42: 1 pts Using the facts in question 80, what was the Charlevoix Supply profit on this product during the first year it was sold? $4,250,000 0% of points $2,650,000 0% of points $10,000,000 0% of points None of the above 0% of points $1,900,000 100% of points 0/1 Question 43: 1 pts

Using the facts in question 80, assume the competitor is liable as alleged by Charlevoix Supply in the patent infringement law suit. Additionally assume
that in the second year of operations all variable manufacturing costs increased by 10 percent and all fixed costs increased by 15 percent and the selling price remained the same. What is the amount of damages that Charlevoix Supply experienced during the second year of the new product as a result of the competitors patent infringement?
$1,807,000 100% of points $1,492,000 0% of points 0 0% of points None of the above. 0% of points $2,210,000 0% of points 0/1 Question 44: 1 pts

Using the facts in question 80, assume the competitor is liable as alleged by Charlevoix Supply in the patent infringement law suit. Also assume that the
company in an effort to mitigate the damages caused by the patent infringement of the competitor created an advertising program that resulted in sales decreasing to only 17,000 units rather than the 12,000 units stated above. The annual cost of the advertising program was $375,000. What is the amount of damages that Charlevoix Supply experienced during the second year of the new product as a result of the competitors patent infringement?
$1,280,000 0% of points $1,900,000 0% of points $1,665,000 100% of points

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None of the above 0% of points $2,650,000 0% of points 0/1 Question 45: 1 pts

Joes Oyster House is a franchise business that pays the franchisor $0.25 per dozen for each dozen oysters the shop sells. This franchise fee is considered to be part of the variable cost of operating the oyster house. In 2009, Joes Oyster House broke even at 50,000 dozen oysters a year and sold 80,000 dozen oysters for the year. New equipment and procedures caused 2010 total fixed costs to increase and unit variable costs to decrease. Sales remained at 80,000 dozen oysters for the year and the break-even sales level remained unchanged at 50,000 dozen. All other variables remained unchanged. Based on this information we can conclude that in 2010 for Joes Oyster House:
Profit would remain unchanged. 0% of points Profit would increase. 100% of points Fixed costs per unit would remain unchanged. 0% of points Would pay more in franchise fees in 2010 than during the 2009. 0% of points Profit would decrease. 0% of points 0/1 Question 46: 1 pts

Below are monthly Sales and Operating Expenses data for the Wiley Company: Month July August Sales Volume Operating Expenses $180,000 210,000 $33,000 38,000 39,000 35,500 40,000 44,200

September 220,000 October 190,000

November 240,000 December 320,000

Using the high-low method, the estimated monthly fixed cost for Operating Expenses is:
$18,600 100% of points None of the above 0% of points $14,400 0% of points $22,785 0% of points $11,200 0% of points 0/1 Question 47: 1 pts Using the facts in question 86, using the high-low method the variable cost per dollar of operating expense is: $0.138 per sales dollar 0% of points $0.08 per sales dollar. 100% of points $12.50 per sales dollar. 0% of points $0.067 per sales dollar. 0% of points None of the answers above is correct. 0% of points 0/1

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Question 48: 1 pts

Using the facts in question 86, assume that the data presented above results in a variable cost of $0.10 per dollar of sales and a fixed cost of $19,000.
If one wanted to predict the amount of Operating Expense at a sales level of $500,000, the answer would be:
None of the above 0% of points a and c 0% of points $69,000 0% of points $50,000 0% of points Most likely outside of the relevant range 100% of points 0/1 Question 49: 1 pts

Waltons Seafood Supply Company had a two-year contract with the Eastside Seafood Store to supply the retail store with a variety of fresh fish. At the beginning of the second year of the contract, Waltons began having trouble meeting the needs of the Eastside Seafood Store. As a result, in order to keep its customers satisfied, Eastside began driving a refrigerated truck 50 miles to another supplier two times a week so the store could meet customer demands. The cost of making the twice a week seafood run was $300 per week in incremental transportation costs. Additionally, Eastside contended that they had to pay on average 15 percent more for the fish at the other supplier than was provided for in the original contract. Eastside Seafood Store averaged $4,000 a week in purchases from the other supplier. Eastside filed a law suit against Waltons Seafood Supply for breach of contract and the court ruled for the plaintiff in the case. Based solely on the information provided above, if you are the accounting expert witness for Eastside Seafood Store, what is your best estimate of the damages in this case?
$208,000 0% of points $31,200 0% of points $15,600 0% of points $46,800 100% of points None of the above 0% of points 0/1 Question 50: 1 pts

Using the facts in the previous question, during the damages phase of the case, Waltons expert witness took issue with the $300 per week cost of
driving a truck to the alternate supply location. She argued that this was not a cost Eastside had incurred before and that the company was merely using it to run up the amount of the damages. Most likely the court will find that:
Eastside Seafood Store is entitled to these damages because they were incurred as a direct result of Waltons failure to honor the supply contract agreement. 100% of points Eastside will most likely not be able to collect either of the amounts mentioned in the case. 0% of points Eastside may be able to get the costs of making the twice a week trips for the seafood, but it cannot also get the amount for the higher cost of the seafood. 0% of points None of the above. 0% of points

Waltons expert is correct and the court will not typically create profits when they did not exist before.
0% of points 0/1 Question 51: 1 pts

A Voir Dire challenge to an expert witnesss testimony refers to:

A legal brief filed during discovery to discredit an opposing experts education. 0% of points The opposing attorneys questioning of the experts credentials, knowledge, or experience in relation to the case. 100% of points A process of discrediting an opposing expert witness that is used in federal court but not in state courts. 0% of points A process of discrediting an opposing expert witness that is no longer used since the use of the Daubert challenge. 0% of points 0/1

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Question 52: 1 pts

In the milestone Daubert case, the U.S. Supreme court characterized the Courts function as that of:
A gatekeeper in rejecting or accepting expert witnesses. 100% of points A trier of fact in interpreting expert opinions. 0% of points The final resolution of difficult decisions that only a court can decide. 0% of points An arbitrator of difficult issues. 0% of points 0/1 Question 53: 1 pts

A regional package delivery company that was marginally profitable entered into a three-year contract with a national airline delivery service to make all local package deliveries within their regional area. After six months, the national firm unilaterally decided to end the contract. The regional package delivery firm sued the national firm claiming significant lost profits. The court found the national firm liable under the contract but awarded no damages to the plaintiff. The legal framework used by the court most likely was that there was no:
Reasonable certainty: It is not reasonably certain that the plaintiff would have earned the claimed profit if the contract had not been breached. 100% of points Proximate cause: there was no evidence that showed the national firm directly caused any damages to the regional firm. 0% of points All three of the above issues must have been present to achieve the stated result. 0% of points Foreseeability: A prudent person would be able to look into the future and see that the offending party would damage the other party. 0% of points 0/1 Question 54: 1 pts Plaintiff Company sues Defendant Company for breach of contract when Defendant Company unilaterally quit buying electric motors from Plaintiff Company after one year of a three-year purchase contract. The contract called for purchase of 20,000 electric motors a year at a price of $100 per unit. Plaintiff Company makes the motors for use in its manufacturing plant for $60 per unit. Shipping and marketing costs are $20 per motor of which 60 percent is variable costs. Administrative expenses for each of the three years of the contract were $1,200,000 and management considers those costs to be fixed. Plaintiff Companies practical capacity is 100,000 which is the level it was operating during the first year of the contract with Defendant Company. During the second year of the contract (the first year of the contract breach), Plaintiff Company found some new customers and operated at 90,000 units of production and sales. During the third year of the contract, Plaintiff Company found additional customers and operated at its practical capacity of 100,000 units.

Compute the net income of Plaintiff Company for Year 1 and Year 2 of the contract:
$1,600,000 and $1,320,000. 0% of points $800,000 and $520,000. 100% of points None of the answers above is correct. 0% of points $2,800,000 and $2,520,000. 0% of points

Year 1 = 100,000 ($100 ($60 + $12)) - $800,000 - $1,200,000 = $800,000 Year 2 = 90,000 ($100 ($60 -$12)) - $800,000 - $1,200,000 = $520,000
0/1 Question 55: 1 pts

Using the facts in question 94, Plaintiff Company alleges that it suffered significant damages because of Defendant Companys breach of the contract.
If Plaintiff Companys expert witness decides that lost gross profit is the best measure of damages (considering no mitigation of damages), the amount of damages claimed in this case by the Plaintiffs expert is:
$1,600,000. 100% of points $600,000. 0% of points $800,000. 0% of points None of the answers above is correct. 0% of points $1,000,000. 0% of points

Defendant Company does not purchase any motors during years two and three of the contract so lost gross profit is:

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(20,000 units 2) ($100 $60) = $1,600,000

0/1 Question 56: 1 pts

Using the facts in question 94, if Defendant Companys expert witness decides that the best measure of damages (considering no mitigation of
damages) is lost profits caused by the breach of contract, the amount of damages is:
$1,600,000. 0% of points None of the answers above is correct. 0% of points $800,000. 0% of points $600,000. 100% of points 40,000 units ($100 ($60 $25)) = $600,000 0/1 Question 57: 1 pts

Using the facts in question 94, considering mitigation of damages, the amount of damages that best estimate the lost profit of the Plaintiff Company is:
$600,000. 0% of points $280,000. 100% of points None of the answers above is correct. 0% of points $1,600,000. 0% of points $800,000. 0% of points Year 2 contract damages = 10,000 units ($100 $60 (0.60 $20)) = $280,000 Year 3 contract damages = zero units = 0 Total damages with damage mitigation = $280,000 0/1 Question 58: 1 pts

Using the facts in question 94, the total number of units that are included in the calculation of damages if we consider mitigation of damages is:
60,000 units which is the total number of units agreed to be purchased under the contract. 0% of points 20,000 units because Plaintiff Companys practical capacity is 100,000 units per year and in Year 2 of the contract Plaintiff sold 90,000 units because of new customers. 0% of points 40,000 units because that is the number of units that Defendant Company did not buy when it breached the contract. 0% of points 10,000 units because Plaintiff Company sold 90,000 units in Year 2 of the contract and 100,000 units in year 3 of the contract. Therefore Plaintiff failed to sell only 10,000 units because of the breached contract 100% of points Because Plaintiff Company has a practical capacity of 100,000 units per year, the breach of contract resulted in the loss of only 10,000 units of sales during the life of the contract. 0/1 Question 59: 1 pts

Jennifer Jones owns and operates a successful local bakery business. In an effort to increase sales and profits she contracted with Jack to deliver cakes and other baked goods to customers. She thought the delivery service would increase her customer base and expand her sales territory. After about six months, Jennifer started getting complaints about late deliveries, cakes and other baked goods arriving in poor condition, and deliveries that were not made at all. Jennifer believes that Jacks unprofessional delivery service has had a very bad impact on her business. She filed suit against Jack. Assuming the description above is accurate, the court would most likely allow her in her damage estimate to include all of the following except:
The cost of promotional materials to rehabilitate the image of the bakery business. 0% of points Profits on lost sales. 0% of points The opportunity cost of money that Jennifer was planning to use for a very good real estate investment that had to be used to improve the business. 100% of points The cost of additional advertising to get back customers that were lost. 0% of points 0/1

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Question 60: 1 pts

Rebuttal testimony can best be described as:

Direct testimony in a federal court. 0% of points The same thing as deposition testimony. 0% of points Testimony given at trial that refutes some or all of the testimony given the court by witnesses from the other side in the case. 100% of points Very much like cross examination. 0% of points 0/1 Question 61: 1 pts

Adversarial bias is best described as:

The bias attorneys have against accounting expert witnesses. 0% of points The adversarial nature of litigation makes both sides in the case very biased toward the other side. 0% of points Witness bias that arises because a party to an adversarial proceeding retains experts to advance its cause in a case. 100% of points The bias that judges and juries have against financial experts because they do not understand the experts terminology 0% of points 0/1 Question 62: 1 pts

The type of adversarial bias that most accounting expert witnesses should guard against is:
Unconscious bias: wanting to help the side that is paying your bills. 100% of points Selection bias: the attorney has the ability to select from a wide range of expert positions picking an unrepresentative expert for testimony. 0% of points Conscious bias: opinions for hire hired guns. 0% of points Jury bias: in which the jury forms an illogical bias against the accounting expert witness. 0% of points 1/1 Question 63: 1 pts

In an effort to avoid adversarial bias, experts should:

Read trial transcripts from prior cases the judge has worked to see how she/he addresses adversarial bias issues. 0% of points Understand that it is a rare problem that most experts do not have to address. 0% of points Be prepared for the tough cross examination questions that the attorney from the other side will ask. 0% of points Remain cognizant of the role of an expert witness and the ethical challenges faced by experts so as not to fall into unconscious adversarial bias situations. 100% of points 1/1 Question 64: 1 pts

Characteristics that most effective expert witnesses possess include all of the following except:
People who know all of the answers and are never stumped by the opposing attorneys cross examination questions no matter how crazy they are. 100% of points People who have earned the respect of peers and others in this area of expertise. 0% of points People who cannot be dismissed as a professional witness. 0% of points People who have a consistent record on matters at issue in the case. 0% of points 1/1

Quiz Score: 23 out of 64

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6/17/2012 7:26 PM