exam3 - Question 1 1 out of 1 points The cash account is...

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

View Full Document Right Arrow Icon
Question 1 2 points Save Which of the following would be involved in a schemes involving overstating assets: Inventories. Accounts receivables. Property, plant and equipment. Consignment sales. Question 2 2 points Save By non-disclose of good news, management has: Protected the company from bad stock valuation on the market. Cost investors who have sold their stock from realizing its true value. Let those who have purchased stock on the market pay a higher price than they should have. All of the above. Question 3 2 points Save Most frauds span multiple fiscal periods, with the average fraud time being approximately: Two quarters. Two years. Three years. Five years. Question 4 2 points Save Which of the following is an example of improper accounting treatment? Transfers of goods from related companies might be improperly recorded as sales. Sham transactions and legitimate transactions that are not properly recorded. Transactions can be intentionally misprocessed in order to produce fraudulent account balances. All of the above. Question 5 2 points Save Who is financial statement fraud harmful to? Investors. Markets. Society. All of the above. Question 6 2 points Save One of the biggest lessons learned by studying cases of financial statement fraud is that: Management will always have the power of greed behind them. Only fools believe in fraudulent financial statements. Auditors can only certify financial statements if they are paid off. People who are making money from fraudulent financial statements want to believe in them. Question 7 2 points Save The classic definition of fraud is: An intentional misrepresentation of fact by some perpetrator. A reliance upon the misrepresentation by some victim. An injury to the victim resulting from reliance upon the misrepresentation. All of the above. Question 8 2 points Save The enforcing agency for insider trading publishes its actions under what heading on its web site? Accounting and Auditing Enforcement Release. Privacy Act release information. Insider Trading Enforcement Release. Law breakers and fraud perpetrators exposes.
Background image of page 1

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

View Full DocumentRight Arrow Icon
Question 9 2 points Save What is a motive for financial statement fraud? Covering up poor performance. Capital acquisition. Generic greed. All of the above. Question 10 2 points Save When a company makes a very large one-time write off, it's said to take a(n): Aggressive accounting position. Big bath. Earnings smoothing approach. Legitimate discretion approach. Question 11 2 points Save In order for actual losses to occur in the bad-news case, the buyer must: Buy and sell within the FCIIP period. Buy before the FCIIP period and sell within it. Buy before the FCIIP period and sell after it.
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.

Page1 / 7

exam3 - Question 1 1 out of 1 points The cash account is...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online