Generally, internal controls are implemented in a corporation to help prevent which element of the fraud triangle?
a. Perceived opportunity
b. Perceived pressure
c. Rationalization
d. Authorization
a
FEEDBACK: a. Correct. Internal controls are generally implemented to help prevent perceived opportunity.
b. Incorrect.
c. Incorrect.
d. Incorrect.
You might also like to view...
When revenue is earned before the receipt of cash, an adjustment that increases a receivable and decreases a liability account is recorded
a. True b. False Indicate whether the statement is true or false
The effect of recording depreciation for the year is a(n)
a. decrease in net income and no change in assets. b. decrease in assets but no change in owners' equity. c. increase in assets and an increase in net income. d. decrease in assets and a decrease in net income.
Departmental reports are least useful to company management for
a. planning purposes; b. control purposes; c. performance evaluation purposes; d. hiring temporary employees; e. goal-setting purposes.
List the seven deadly sins of business selling.
What will be an ideal response?