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NEW QUESTION # 99
When expenses used to produce income- all of them- should be matched in a consistent manner against that income, this is referred to:
- A. Accrual basis accounting
- B. Financial record
- C. Expense
- D. Equity
Answer: A
Explanation:
Section: Financial Transactions and Fraud Schemes
NEW QUESTION # 100
In Cressey's fraud triangle, its three of the legs are Opportunity, Pressure and
- A. Rationalization
- B. Violation
- C. None of the above
- D. Isolation
Answer: A
Explanation:
Section: Fraud Prevention and Deterrence
NEW QUESTION # 101
Physical assets including _________ and ________ are the most commonly
misappropriated noncash asset in our study.
- A. Interest & Collusion
- B. Sales & Equipment
- C. Inventory & Purchase
- D. Inventory & Equipment
Answer: D
NEW QUESTION # 102
CORRECT TEXT
One of the simplest ways to justify unacceptable conduct and avoid guilt feelings is to invent a good reason for ________.
Answer:
Explanation:
Pending
NEW QUESTION # 103
When employees avoid detection in a refund scheme to keep the sizes of the disbursement low, is referred to:
- A. Simple disbursements
- B. None of the above
- C. Very small disbursements
- D. Small disbursements
Answer: D
NEW QUESTION # 104
__________ may be defined as the offering, giving, receiving or soliciting anything of value to influence an official act.
- A. Lacking approval authority
- B. Bribery
- C. Diverting business to vendors
- D. Corruption
Answer: B
NEW QUESTION # 105
According to Hollinger and Clark for Policy development, management must pay attention to:
- A. Both A & B
- B. A clear understanding regarding theft behavior
- C. Enforcement of sanctions
- D. Neither A nor B
Answer: A
NEW QUESTION # 106
Organizations that had external audits actually had higher median losses and longer lasting fraud schemes than those organizations that were not audited.
- A. True
- B. False
Answer: A
NEW QUESTION # 107
Which of the following are used in a short term skimming scheme?
- A. Unrecorded sales, understated sales and theft of incoming checks
- B. False company accounts, understated sales and theft of incoming checks
- C. Understated sales, theft of incoming checks and check-for-currency substitutions
- D. Unrecorded sales, understated sales and dual endorsements
Answer: A
NEW QUESTION # 108
The act of an official or fiduciary person who unlawfully and wrongfully uses his station or character to procure some benefit, contrary to duty and rights of others is called:
- A. Overbilling
- B. Conflict of interest
- C. Bribery
- D. Corruption
Answer: D
NEW QUESTION # 109
Employees steal an incoming payment and then place the incoming funds in an interest bearing account for:
- A. Concealing the fraud
- B. All of the above
- C. Short-term skimming
- D. Converting stolen checks
Answer: C
NEW QUESTION # 110
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 # 111
Which of the following offender types in which people who take the money and run away?
- A. Absconders
- B. None of the above
- C. Long-term violators
- D. Offender types
Answer: A
NEW QUESTION # 112
Which of the following is the criterion for bid solicitation?
- A. To falsify the bid log
- B. To withdraw low bids
- C. Allowing the purchaser to discuss possible employment with the contractor
- D. Containing false statements
Answer: C
NEW QUESTION # 113
A tangible asset is one which is:
- A. Both A & B
- B. capable of being perceived
- C. capable of being appraised
- D. Neither A nor B
Answer: A
Explanation:
Section: Financial Transactions and Fraud Schemes
NEW QUESTION # 114
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