Lesson2Assignment

Lesson2Assignment - Lesson 2 Acct 4235 Student Name Aaron...

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Lesson 2 Acct 4235 Student Name: Aaron Adderley Enrollment #: 648009 Chapter 2 Multiple Choice Questions 1. B 2. D 3. C 4. A 5. D 6. D 7. C 8. E 9. B 10. A 11. B 12. C 13. C 14. B 15. B 16. E 17. E 18. C Case Questions Case 4. 1. At the company that Ruth worked for, there was a lack of controls that prevent fraudulent behavior, as a result of inadequate segregation of duties. Thus, Ruth's perceived opportunity was that she could embezzle funds from her employer and it would go unnoticed as she was responsible for paying the bills, making bank deposits and also performing the bank reconciliations. 2. As Ruth was addicted to gambling, she had a vice pressure that needed to be supported. Moreover, her gambling habit may have thrown her into serious debt, thus giving way to financial pressures to continue on with the fraud. 3. Confidence was placed in Ruth by her employers. As a result of this confidence, her employers failed to implement adequate segregation of duties controls,
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and also apparently failed to perform independent checks (no mandatory vacation policy was mentioned in the blurb). The inadequacy of the controls to prevent and detect fraud were the result of the confidence that Ruth's employer placed in her, and this inadequacy gave rise to a greater opportunity for Ruth to commit fraud. 4. Vices such as gambling motivate people to commit fraud because it easier for
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This note was uploaded on 07/06/2008 for the course ACCT 4235 taught by Professor Online during the Spring '08 term at LSU.

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Lesson2Assignment - Lesson 2 Acct 4235 Student Name Aaron...

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