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One final means of concealing a register scheme, as with many kinds of fraud, is to destroy all records of the transaction.
One final means of concealing a register scheme, as with many kinds of fraud, is to destroy all records of the transaction.A . TrueB . FalseView AnswerAnswer: A
Which of the following offender types in which people who take the money and run away?
Which of the following offender types in which people who take the money and run away?A . AbscondersB . Long-term violatorsC . Offender typesD . None of the aboveView AnswerAnswer: A
_________ assumes the business will go on indefinitely in the future.
_________ assumes the business will go on indefinitely in the future.A . MaterialityB . Going concernC . CostD . Fair valueView AnswerAnswer: B
The excess credits (or debits) on the income statement are used to decrease (or increase) the equity account.
The excess credits (or debits) on the income statement are used to decrease (or increase) the equity account.A . TrueB . FalseView AnswerAnswer: B
Which are check tempering frauds in which an employee prepares a fraudulent check and submits it usually along with legitimate checks to an authorized maker who signs it without a proper review?
Which are check tempering frauds in which an employee prepares a fraudulent check and submits it usually along with legitimate checks to an authorized maker who signs it without a proper review?A . Endorse check schemeB . Legitimate check schemeC . Payable check schemeD . Concealed check schemeView AnswerAnswer: D
________ increase assets and expenses and/or decrease liabilities and/or equity
________ increase assets and expenses and/or decrease liabilities and/or equityA . Journal EntriesB . DebitC . CreditD . None of allView AnswerAnswer: B
The forms that allow noncash assets to be moved from one location in a company to another can be used to facilitate the misappropriation of those assets are called:
The forms that allow noncash assets to be moved from one location in a company to another can be used to facilitate the misappropriation of those assets are called:A . Inventory usagesB . Fake salesC . Asset requisitionD . All of the aboveView AnswerAnswer: C
According to SAB 104, for the revenue to be typically considered realized or realizable and earned, which of the following criteria is NOT met:
According to SAB 104, for the revenue to be typically considered realized or realizable and earned, which of the following criteria is NOT met:A . Persuasive evidence of an arrangement existsB . Services has been renderedC . Timings have been metD . Collectability is reasonably assuredView AnswerAnswer: C
Depreciation is especially applicable when companies try to overvalue their assets and net worth; the lower their depreciation expense, the higher the company’s profits.
Depreciation is especially applicable when companies try to overvalue their assets and net worth; the lower their depreciation expense, the higher the company’s profits.A . TrueB . FalseView AnswerAnswer: A
Skimming is:
Skimming is:A . The removal of cash from a victim entity prior to its entry in an accounting system.B . The addition of cash from a victim entity prior to its entry in an accounting system.C . The removal of cash from a victim entity after its entry in an...
