Exam1BUS4113 - Name: BUS 4113 Exam 1 Ch 1 to 6 Name: _...

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Name: BUS 4113 Exam 1 Ch 1 to 6 Name: ________________________ Multiple Choice (2.5 points each) Identify the choice that best completes the statement or answers the question. __b__ 1. The main objective of corporate governance is to: a. make employees more accountable to management. b. make management more accountable to employees, stockholders, and others interested in the company. c. ensure management compliance with uniform standards. d. reduce the need for internal controls throughout the organization. __d__ 2. Ideally, segregation of duties requires which duties to be segregated? a. Managerial and financial accounting duties b. Manufacturing and selling and administrative duties c. Computerized recordkeeping and manual recordkeeping duties d. Recordkeeping, custody, and authorization duties __c__ 3. Who sets the tone for ethical behavior in an organization? a. Internal auditors b. Audit committee c. Upper management d. Middle management __c__ 4. The most common types of fraudulent financial reporting involve overstating: a. liabilities and expenses. b. direct materials and overhead. c. revenues and assets. d. liabilities and revenues. __c__ 5. Fraud involving upper-level management: a. is less likely to occur when earnings management is involved. b. usually results in revenues and assets being understated on the financial statements. c. is much more difficult to detect than fraud by lower-level employees. d. is more likely to occur when a company has internal control procedures in place.
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__d__ 6. Fraudulent financial reporting involves the active involvement of a company's: a. employees. b. stockholders. c. internal auditors. d. management. __c__ 7. Which of the following is more of an example of fraudulent financial reporting rather than misappropriation of assets? a. Kiting b. Lapping c. Overstatement of revenues d. Embezzlement of funds __d__ 8. ____ occurs when two or more people work together to commit fraud. a. Embezzlement b. Kiting c. Lapping d. Collusion __a__ 9. The main focus of managerial accounting is: a. decision making. b.
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This note was uploaded on 02/03/2011 for the course BUS 3101 taught by Professor Loyd during the Spring '09 term at Dallas.

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Exam1BUS4113 - Name: BUS 4113 Exam 1 Ch 1 to 6 Name: _...

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