{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

Homework #1_Solutions

Homework #1_Solutions - Homework#1 Chapters 1 3 Name...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Homework #1 Name: _______________________ Chapters 1 – 3 Section: ___________________ True/False 1. F Telemarketing fraud is an example of employee embezzlement 2. F Unintentional errors in financial statements are a form of fraud 3. F/T In customer fraud, customers do not pay for goods purchased 4. T The three elements of the fraud triangle are a perceived pressure, a perceived opportunity, and rationalization 5. F Effective fraud fighters usually put most of their time and effort into minimizing the pressures for fraud perpetrators to commit fraud 6. F An individual who owns his or her own business and is the sole employee needs many control procedures 7. T The elements of the fraud triangle by which the investigative techniques are often classified are 1) the theft act, 2) concealment efforts, and 3) conversion methods 8. T Criminal conviction is much more difficult to achieve than a civil judgment because it requires proof ‘beyond a reasonable doubt” that the perpetrator intentionally stole assets 9. T Legal action taken by an organization can affect the probability of whether fraud will reoccur 10. T Expectations about punishment must be communicated randomly among work groups if fraud is to be prevented
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Short Answers 1. When vendor fraud occurs, who is the perpetrator and who is the victim? In vendor fraud the perpetrators are organizations or individuals that sell goods or services and the victim(s) are the organizations and individuals who buy those goods or services. 2. In what ways did fraudulent mutual funds benefit from committing fraud? 3. List three internal control activities: a)Monitoring b)Control Environment c)Risk Assessment 4. What are the three common pressures that cause perpetrators to commit fraud? Give examples of each.
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}