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The scheme which reduces victim companies to issue fraudulent payments for goods or services that they have not received is called:
The scheme which reduces victim companies to issue fraudulent payments for goods or services that they have not received is called:A . Bogus claimsB . Billing schemeC . Reliance billingD . Misappropriate claimsView AnswerAnswer: A
A shell company scheme in which actual goods or services are sold to the victim company is known as:
A shell company scheme in which actual goods or services are sold to the victim company is known as:A . Maintenance schemeB . Allocation schemeC . Distribution schemeD . Pass-through schemeView AnswerAnswer: D
Physical tampering prevention is a check tampering technique that is used to secure bank assisted controls.
Physical tampering prevention is a check tampering technique that is used to secure bank assisted controls.A . TrueB . FalseView AnswerAnswer: B
The most common method for billing scheme is:
The most common method for billing scheme is:A . RegisterB . TipsC . AccidentD . None of the aboveView AnswerAnswer: B
Physical assets including _________ and ________ are the most commonly
Physical assets including _________ and ________ are the most commonly misappropriated noncash asset in our study.A . Interest & CollusionB . Inventory & EquipmentC . Inventory & PurchaseD . Sales & EquipmentView AnswerAnswer: B
The amount of cash on hand in a register may be compared to the amount showing in the register tape in order to detect _______.
The amount of cash on hand in a register may be compared to the amount showing in the register tape in order to detect _______.A . Employee theftB . Recorded salesC . Internal auditsD . Occupational fraudsView AnswerAnswer: A
_____________ involves purposeful misreporting of financial information about the
_____________ involves purposeful misreporting of financial information about the organization that is intended to mislead those who read it.A . Fraudulent statementB . CorruptionC . Asset misappropriationsD . None of aboveView AnswerAnswer: A
Which check tampering red flag may indicate employees have embezzled cash and charged the embezzlement to expense accounts?
Which check tampering red flag may indicate employees have embezzled cash and charged the embezzlement to expense accounts?A . Voided checksB . Payable checksC . Missing checksD . Duplicate checksView AnswerAnswer: C
_________ revenues involve the recording sales of goods or services hat did not occur.
_________ revenues involve the recording sales of goods or services hat did not occur.A . Fictitious or fabricated revenuesB . Financial revenuesC . Red flag revenuesD . Concealed revenuesView AnswerAnswer: A
People commit financial statement fraud to:
People commit financial statement fraud to:A . Conceal false business performancesB . Preserve personal status/controlC . Maintain personal incomeD . Stand outside the accounting systemView AnswerAnswer: B
