False Statements

Misrepresentation
Misrepresentation refers to an untrue statement, whether unintentional or deliberate. It can involve nondisclosure where there is a duty to disclose or the deliberate creation of a false appearance. When there is misrepresentation of material fact, the injured party may sue for damages or rescind the contract.
Perjury
Perjury is the criminal offense of making false statements under oath, typically in a judicial proceeding. While traditionally limited in scope to judicial settings and material matters, statutes in many jurisdictions now encompass false swearing in various legal instruments or settings.

Accounting Terms Lexicon

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