Which of the following statements is the least useful means to detect revenue-related frauds?
a. comparing financial statement amounts with the assets they represent
b. comparing the financial statement performance between similar companies within the same industry
c. focusing on changes in financial statement revenue-related relationships
d. focusing on changes in recorded account balances from period to period
a
FEEDBACK: a. Correct; generally revenues do not correspond to physical assets that can be examined.
b. Incorrect; this is a good means of detecting potential fraud.
c. Incorrect; this is a good means of detecting potential fraud.
d. Incorrect; this is a good means of detecting potential fraud.
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