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NEW QUESTION # 78
Bank cut-off statements should be requested for 10-15 days after the closing date of the balance sheet.
- A. True
- B. False
Answer: A
NEW QUESTION # 79
Every bribe is a two-sided transaction, in which where a vendor bribes a purchaser, there is someone on the vendor's side of the transaction who is not making an illicit payment.
- A. True
- B. False
Answer: B
NEW QUESTION # 80
Physical assets including _________ and ________ are the most commonly
misappropriated noncash asset in our study.
- A. Interest & Collusion
- B. Inventory & Equipment
- C. Inventory & Purchase
- D. Sales & Equipment
Answer: B
NEW QUESTION # 81
A __________ is a day-by-day, or chronological, record of transactions
- A. Journal
- B. Asset
- C. Ledger
- D. Checkbook
Answer: A
NEW QUESTION # 82
In which of the following process, all bidders are legally supposed to be placed on the same plane of equality, bidding on the same terms and conditions?
- A. Bid solicitation
- B. Bid-rigging
- C. Competitive bidding
- D. Kickbacks
Answer: C
NEW QUESTION # 83
Which of the following is NOT the method for stealing inventory and other assets?
- A. Sales & Equipment handling
- B. Purchasing and receiving schemes
- C. Larceny schemes
- D. Asset requisition and transfer
Answer: A
NEW QUESTION # 84
___________ should be examined to see that all are properly documented and that inappropriate payments have not been made to employees.
- A. Cash advances
- B. Payable cash
- C. counterfeit checks
- D. Payable checks
Answer: A
NEW QUESTION # 85
In which of the following process, all bidders are legally supposed to be placed on the same plane of equality, bidding on the same terms and conditions?
- A. Bid solicitation
- B. Bid-rigging
- C. Competitive bidding
- D. Kickbacks
Answer: C
Explanation:
Section: Fraud Prevention and Deterrence
NEW QUESTION # 86
CORRECT TEXT
The _______________ cost method of pricing would carry an asset's value on the financial statements as what it would currently cost, considering inflation.
Answer:
Explanation:
Pending
NEW QUESTION # 87
A ___________ occurs when an employee, manager or executive has an undisclosed economic or personal interest in a transaction that adversely affects the organization.
- A. Illegal sale
- B. Unauthorized purchase
- C. Financial disclosure
- D. Conflict of interest
Answer: D
NEW QUESTION # 88
The scheme in which the same vendor is receiving favorable treatment van be found in purchases by vendor searches.
- A. True
- B. False
Answer: A
NEW QUESTION # 89
In Cressey's fraud triangle, its three of the legs are Opportunity, Pressure and
- A. Rationalization
- B. None of the above
- C. Isolation
- D. Violation
Answer: A
Explanation:
Section: Fraud Prevention and Deterrence
NEW QUESTION # 90
The person or persons who have access to __________ are often the targets of unethical vendors seeking an advantage in the process.
- A. Tailor specifications
- B. Bid-splitting
- C. Sealed bids
- D. General purchasing
Answer: C
NEW QUESTION # 91
Conflict of interest cases are more easily prevented than detected.
- A. True
- B. False
Answer: A
NEW QUESTION # 92
CORRECT TEXT
___________ allows the fraud examiner to inspect key attributes on a smaller portion (or sample) of those documents.
Answer:
Explanation:
Pending
NEW QUESTION # 93
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