week 2 ACC 490 HW - Ch. 6, 7 & 9 Textbook Problems...

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University of Phoenix ACC/490 Instructor: Raymond Ho By Scott Ward
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employee activities under which of these conditions? a. The company always estimates the inventory but never takes a complete physical count. 6.25 The best way to enact a broad fraud-prevention program is to d. Practice management “of the people and for the people” to help them share personal and professional problems. 6.26 A good fraud prevention program should address employees’ motivation to steal from the company. The best method for doing this is to a. Establish employee assistance programs. 6.27 A code of ethics is an important element of a fraud prevention program. Which of the following would diminish the effectiveness of a company’s code of ethics? c. The violation of the code of ethics by senior management. 6.28 Which of the following is least likely to indicate fraudulent activity? c. Bank reconciliation has no outstanding checks or deposits older than 15 days. 6.29 Which of the following combinations is a good means of hiding employee fraud but a poor means of carrying out management (financial reporting) fraud? b. Overstating sales revenue and overstating bad debt expense. 6.30 Allison, an employee in accounts payable, believes she can run a fictitious invoice through the accounts payable system and collect the money. She knows payments are subject to an audit. Which account would be the best place to hide the fraud?
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This note was uploaded on 03/01/2012 for the course ACC all taught by Professor All during the Spring '12 term at University of Phoenix.

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week 2 ACC 490 HW - Ch. 6, 7 & 9 Textbook Problems...

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