ACCT 460

1. Which of the following is not an example of financial statement fraud? a. Falsification of material financial records, supporting documents, or business transactions b. Unintentional misapplication of accounting principles c. Deliberate omission of material disclosures d. All of the above are examples of financial statement fraud 2. Staff Accounting Bulletin Topic 13, “Revenue Recognition,” indicates that revenue is considered realized or realizable and earned when four criteria ar...

d. All of the above 20. Jackson, CFE, is investigating a suspected embezzlement by one of XYZ Corp.’s employees. As part of this investigation, she is assembling a financial profile of the suspect. Among other things, she wants to know if the suspect has made any significant real estate purchases since the embezzlement scheme began. Information on real estate transactions such as deeds, grants, transfers, and mortgages is located: a. With the county recorder b. With the state tax assessor...

9. Which of the following methods can be used to perpetrate a fictitious expense reimbursement scheme? a. Creating counterfeit receipts b. Stealing blank receipts c. Submitting expenses that were paid by a third party d. All of the above 10. What type of expense reimbursement scheme occurs when an employee submits a receipt for an entertainment expense that a client paid for? a. Mischaracterized expense reimbursement b. Overstated expense reimbursement c. Fictitious expense reimburseme...