ACC505 Module 3 Quiz Latest (Verified answer/100% correct) updated

ACC505 Module 3 Quiz Latest




Question

Question 1

Which type of check tampering scheme is usually the most difficult to defend against?

Concealed check

Authorized maker

Forged endorsement

Altered payee

Question 2

Check tampering includes both fraudulently preparing a company check for one’s own benefit
and intercepting a company check that is intended for a third party and converting it for one’s
own benefit.

True

False

Question 3

Which of the following procedures can help prevent and detect the theft and conversion of
outgoing company checks?

Train employees to look for dual endorsements on canceled checks

Chart the date of mailing for every outgoing check

Track changes made to vendor records

All of the above

Question 4

Check tampering schemes involving checks made payable to “cash” are extremely difficult to
resolve, as there is no way to tell who converted the check

True