Which of the following is an analytical symptom associated with revenue-related financial statement frauds?
a. Untrue responses by management to queries about revenue-related accounts.
b. Missing documents in the revenue cycle.
c. Unusual entries made at the end of the accounting period that increase revenues.
d. Significant bonuses tied to meeting earnings forecasts.
c
FEEDBACK: a. Incorrect. This is a behavioral symptom.
b. Incorrect. This is an accounting symptom.
c. Correct.
d. Incorrect. This is a lifestyle symptom
You might also like to view...
J. Lovett, bookkeeper, incorrectly recorded the payment of rent as $5,200 . The rent should have been recorded as $2,500 . This is an example of
a. a slide and transposition. b. a transposition. c. a slide. d. None of the answers listed
________ is the exchange value of a product or service in the marketplace
A) Utility B) Tangibility C) Price D) Wage E) Salary
Explain some of the drawbacks of exiting the business through an IPO.
What will be an ideal response?
All of the following are ways to understate liabilities except:
a. understate accounts payable. b. overstate unearned revenue. c. failure to record warranty obligations. d. omission of contingent liabilities.