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Unformatted text preview: a. True b. False 31. Just like termites, fraud can destroy an organization. a. True b. False 32. Recessions often increase fraud and abuse. a. True b. False 35. According to the FBI’s definition of fraud, there should be an application or threat of physical force or violence. a. True b. False 36. One need not be a CPA to obtain the Certified in Financial Forensics (CFF). a. True b. False 37. Forensic accountants need an understanding of: a. Accounting. b. Law. c. Criminology. d. Investigative auditing. e. All of the above. 45. Which task probably would not be required of a Certified Fraud Examiner? a. Gather evidence. b. Write reports. c. Assist in investigating fraud. d. Testify in the courtroom. e. All of the above may be required. 3. The audit committee is one leg of the six‐legged stool of the financial reporting process. a. True b. False 4. Misrepresentation is one of the three M's of financial reporting fraud. a. True b. False 5. The bill‐and‐hold practice involves selling inventory to customers and holding the merchandise, with an agreement to deliver the goods later. a. True Chapter 3: Page 4 of 44 ...
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- Summer '10