Forensic Quiz 5

Forensic Quiz 5 - Question 1 2 out of 2 points When...

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Question 1 2 out of 2 points When properly implemented, internal controls: Answer Selected Answer: Minimize loss exposures. Correct Answer: Minimize loss exposures. Response Feedback: Internal control never provides assurance that particular losses will be prevented or eliminated. Rather, internal control reduces the risk that losses will occur. Question 2 2 out of 2 points In many types of frauds, such as embezzlement, the cover-up is Answer Selected Answer: The most difficult part of the fraud. Correct Answer: The most difficult part of the fraud. Response Feedback: Embezzlement is normally only possible when an employee has control over both the accounting records and cash. In this case, it’s relatively easy for the employee to steal cash. For example, an employee with control of the daily cash deposits could simply pocket part of one day’s deposits; that would take only a moment. But it would be much more difficult for the employee to manipulate the accounting records to cover up the theft. Question 3
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Forensic Quiz 5 - Question 1 2 out of 2 points When...

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