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NEW QUESTION # 34
Most of the shell company schemes involve the purchase of goods rather than services.
- A. True
- B. False
Answer: B
NEW QUESTION # 35
A __________ is a day-by-day, or chronological, record of transactions
- A. Ledger
- B. Asset
- C. Journal
- D. Checkbook
Answer: C
NEW QUESTION # 36
Which of the following is not the skimming scheme?
- A. Unrecorded sales
- B. Understand sales and receivables
- C. Theft of checks through the mail
- D. Fraud & Cost
Answer: D
Explanation:
Section: Financial Transactions and Fraud Schemes
NEW QUESTION # 37
____________ corrupt employees can cause inventory to be fraudulently delivered to themselves or accomplices.
- A. Fraudulent inventory slip
- B. False shipping slip
- C. False credit slip
- D. False packing slip
Answer: D
NEW QUESTION # 38
A journal in which all sales made on credit or cash are listed is:
- A. Accounts payable journal
- B. General journal
- C. Disbursement journal
- D. Accounts receivable journal
Answer: D
NEW QUESTION # 39
Which of the following is the criterion for bid solicitation?
- A. Containing false statements
- B. To falsify the bid log
- C. To withdraw low bids
- D. Allowing the purchaser to discuss possible employment with the contractor
Answer: D
Explanation:
Section: Fraud Prevention and Deterrence
NEW QUESTION # 40
SIMULATION
__________ means that traditional bribery statutes proscribe only payments made to influence the decisions of government agents or employees.
Answer:
Explanation:
Official act
NEW QUESTION # 41
A __________ is a day-by-day, or chronological, record of transactions
- A. Ledger
- B. Asset
- C. Journal
- D. Checkbook
Answer: C
NEW QUESTION # 42
The more power a person has over the bidding process, the more likely the person can influence the selection of a supplier.
- A. True
- B. False
Answer: A
NEW QUESTION # 43
Which of the following is NOT the example of bribery prevention policies?
- A. Resource diversions
- B. Discounts
- C. Reporting gifts
- D. Business meetings
Answer: A
NEW QUESTION # 44
In which approach, fraudsters produce whatever financial statements they wish, perhaps using just a typewriter or a personal computer.
- A. Playing the accounting
- B. Beating accounting
- C. Organized accounting
- D. Outside accounting system
Answer: D
NEW QUESTION # 45
Which of the following is not the skimming scheme?
- A. Unrecorded sales
- B. Understand sales and receivables
- C. Theft of checks through the mail
- D. Fraud & Cost
Answer: D
NEW QUESTION # 46
Which of the following search is used for unusually high incidence of returns and allowances scheme?
- A. Allowances by vendors
- B. None of the above
- C. Returns and allowances
- D. Disposals of allowances than reorders
Answer: C
NEW QUESTION # 47
Bank cut-off statements should be requested for 10-15 days after the closing date of the balance sheet.
- A. True
- B. False
Answer: A
NEW QUESTION # 48
The more power a person has over the bidding process, the more likely the person can influence the selection of a supplier.
- A. True
- B. False
Answer: A
NEW QUESTION # 49
_____________ involves purposeful misreporting of financial information about the organization that is intended to mislead those who read it.
- A. Asset misappropriations
- B. None of above
- C. Corruption
- D. Fraudulent statement
Answer: D
Explanation:
Section: Financial Transactions and Fraud Schemes
NEW QUESTION # 50
In ____________ scheme, a supplier pays an employee of the purchasing company to write specifications that will require amendments at a later date.
- A. Deliberate writing of vague specifications
- B. False specification
- C. Need recognition
- D. Bid-splitting
Answer: A
Explanation:
Section: Fraud Prevention and Deterrence
NEW QUESTION # 51
Delivery has not occurred or services have not been rendered when:
- A. Both A & B
- B. Until installation and customer testing and acceptance has occurred.
- C. A written order exists but contains a right of return.
- D. Neither A nor B
Answer: C
NEW QUESTION # 52
The most common method for billing scheme is:
- A. None of the above
- B. Register
- C. Tips
- D. Accident
Answer: C
Explanation:
Section: Fraud Prevention and Deterrence
NEW QUESTION # 53
Which of the following is the criterion for bid solicitation?
- A. Containing false statements
- B. To falsify the bid log
- C. To withdraw low bids
- D. Allowing the purchaser to discuss possible employment with the contractor
Answer: D
NEW QUESTION # 54
SIMULATION
A ____________ can be very costly for an organization to undertake, both in terms of money and time spent.
Answer:
Explanation:
Civil lawsuit
NEW QUESTION # 55
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