Posted on

ACCT 562 Midterm Exam Complete A+ Answer

ACCT 562 Midterm Exam Complete A+ Answer

1. (TCO D) Field techniques for cash review include analyzing

2. (TCO F) Manually altering entries in an organization’s books in order to conceal fraud is called:

3. (TCO F) Which of the following is not one of the primary purposes of asking introductory questions during an interview?

4. (TCO F) When the subject of an investigation has been accused of misconduct, establishing a morally acceptable rationalization might allow the accused to reconcile his or actions with his conscience. Which of the following is not an example of an acceptable rationalization?

5. (TCO F) In one of the case studies in the textbook, Brian Lee, a top-notch plastic surgeon, collected payments from his patients without giving a cut to the clinic where he practiced. What was his motivation for committing the fraud?

6. (TCO F) Nicolette Garrison works part-time at an independent record store. Whenever her friend, Jacob Barker, comes into the store during one of her shifts, he picks up a CD and brings it to the register where Nicolette is stationed. After ringing a “no sale” transaction on the cash register, Nicolette pretends to swipe Jacob’s credit card for payment. She puts the CD in a bag and gives it to Jacob, who walks out without actually paying for the merchandise. What kind of scheme is being committed?

7. (TCO F) A(n) _____________ interview is one that has the potential to bring about strong emotional reactions in the respondent.

8. (TCO F) According to the 2006 Report to the Nation on Occupational Fraud and Abuse, the theft of which type of non-cash asset was the least common but caused the highest median loss?

9. (TCO A)Discussing the benefits of operational reviews with management helps to

10. (TCO B) Financial ratios used in planning include:

11. (TCO A-D) Interviewing, financial analysis, observing processes are all part of the ___________phase.

12. (TCO A) Operational areas eligible for review include

13. (TCO A) The reason(s) a business exists include

14. (TCO F) Albrecht’s Fraud Scale differs from Cressey by utilizing the factor of ________________________.

15. (TCO F) In one of the case studies in the textbook, Brian Lee, a top-notch plastic surgeon, collected payments from his patients without giving a cut to the clinic where he practiced. How was he punished?

16. (TCO F) In the Fraud Tree, asset misappropriations are broken down into cash and non-cash schemes. Which of the following is not considered a misappropriation of cash?

17. (TCO F) The conceptual framework for financial reporting includes several assumptions that underlie generally accepted accounting principles. Which of the following is one of these assumptions?

18. (TCO A) Operational review phases are ordered in

19. (TCO F) Reversing entries is a method for concealing larceny of ___________?

20. (TCO F) Dorothy McNally stole $232 from the company deposit while on the way to the bank. She can conceal the theft by recording the missing amount on the bank reconciliation as a(n):

21. (TCO F) According to a study by COSO, which of the following groups is the most likely to commit financial statement fraud?

22. (TCO B) One of the primary purposes of the planning is to:

1. (TCO A) Operational review procedures embrace the concept of conducting operations for economy, efficiency, and effectiveness. Provide a brief description of the EFFICIENCY aspect, and provide an example

2. (TCO A) Compare and contrast a financial audit versus an operation review using the following characteristics: Purpose, Scope, Skills, Audience, Audit Results, and Focus.

3. (TCO F) Cressey’s “fraud triangle” states that three factors—non-shareable financial need, perceived opportunity, and rationalization—are present in cases of occupational fraud. Which of these three factors, if any, is the most important in causing executives, managers, and employees to commit occupational fraud? (Points : 10)

4. In the case study, “The Importance of Timing,” what kind of fraud did the accountant commit? How could this fraud have been discovered? (Points : 10)

For instant digital download of the above solution, Please click on the “PURCHASE” link below to get the tutorial for ACCT 562 Midterm Exam Complete A+ Answer

For instant digital download of the above solution or tutorial, please click on the below link and make an instant purchase. You will be guided to the PAYPAL Standard payment page wherein you can pay and you will receive an email immediately with a download link.

In case you find any problem in getting the download link or downloading the tutorial, please send us an email on mail@genietutorial.com

ACCT 562 Midterm Exam Complete A+ Answer

Leave a Reply

Your email address will not be published. Required fields are marked *