Possible Exam 1 Questions - Forensics nn 33

Possible Exam 1 Questions - Forensics nn 33 - b. Unrecorded...

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Unformatted text preview: b. Unrecorded sales. c. Understated sales. d. Theft of incoming checks. e. All of the above. 74. Which scheme is considered to be skimming? a. Unrecorded sales. b. Understated sales. c. Theft of incoming checks. d. Swapping checks for cash. e. All of the above. 75. Building up balances in bank accounts based upon floating checks drawn against similar accounts in other banks is best called: a. Skimming. b. Kiting. c. Money laundering. d. Lapping. e. None of the above. 76. Skimming can be caught by: a. Gross profit analysis. b. Comparing receipts with deposits. c. Surprise cash counts. d. Investigating customers' complaints. e. All of the above. 77. What is a red flag of kiting? a. Frequent deposits and checks in the same amount. b. Large deposits on Fridays. c. Short time lag between deposits and withdrawals. d. Only a and c. e. Items a, b, and c. 78. What audit step would be most appropriate for finding accounts receivables fraud? a. A bank reconciliation audit. b. Gross profit analysis. c. Reviewing customer complaints. d. Surprise cash counts. e. All of the above. 79. A person on the payroll who does not work for that company is generally called: Page 33 of 44 ...
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