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2-M/C #1.               One of the most important contributions of criminology to the study of fraud is: A.the M.I.C.E. concept. B.the fraud triangle. C.the relationship of punishment to remediation. D.Another choice is the most important contribution of criminology. 2-M/C #2.               All of the following are elements of the Information Systems Audit and Control Association (ISACA) definition.
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Short Answer Essay 2-SAE #1.               The statement is frequently made that the financial statements are “not misleading and are free of material errors, irregularities, and fraud.” What does this statement mean? 2-SAE #2.               What are the major differences between internal auditors and external auditors. What strengths and weaknesses require both to exist? 2-SAE.
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True/False 7-T/F #1.                  Management must design, implement, and maintain internal controls and ?nancial reporting processes to produce timely ?nancial and non?nancial information that re?ects the underlying economics of the business. 7-T/F #2.                  Management need not develop a methodology to measure their performance since this is done with the released annual financial.
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2-T/F #1.                  Corporate accounting is primarily responsible for the quality, integrity, and reliability of the financial reporting process, as well as the fair presentation of financial statements in conformity with generally accepted accounting principles (GAAP). 2-T/F #2.                  Regulatory reforms in the United States are aimed primarily at improving the financial reporting.
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Test Bank Questions   True/False   LO#1 Cyber-crime involves the use of cell phones. Computers offer cyber criminals efficient ways to hide fraudulent activities. LO#2 The “computer as a symbol” involves using a computer to intercept data transmission. Computer crime and computer fraud are synonyms. Computer crime involves the attempt to access data illegally. An employee, having authorized access to.
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6-TRQ #1.              In the criminal justice system, how is probation different from parole? 6-TRQ #2.              What are the factors that affect the decision to prosecute an entity? 6-TRQ #3.              What is the discovery process and how does it work? 6-TRQ #4.              What are the three major types of negotiated remedies and how do.
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2-TRQ #1.              Which professional organizations support fraud examination and financial forensics professionals? What certifications do they offer? 2-TRQ #2.              What international opportunities exist in fraud examination and financial forensics? 2-TRQ #3.              .
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TRUE/FALSE LO #1 “Accidental” fraudsters are usually poor members of minority groups. “Predator” fraudsters usually go from town to town, without settling down or establishing roots. LO #2 Collusion requires more than one person to override the system of internal controls. Collusion is almost impossible to detect because the persons charged with providing internal control are part.
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1-SAE #1.               Explain what is meant by the term “financial forensics.” 1-SAE #2.               Explain the “fraud triangle” and “M.I.C.E.” and compare the two in your explanation. 1-SAE #3.               .
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1-SAE #1.               Intent is a significant problem in fraud investigations and prosecutions. Discuss the issue of intent and explain some of the common problems associated with proving intent. Critical Thinking Exercise Anthony and Cleopatra are lying dead on the floor in a villa. Nearby on the floor is a broken bowl. There.
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Text Review Questions 2-TRQ #1.              Describe occupational fraud and abuse. 2-TRQ #2.              Compare and contrast Cressey’s and Albrecht’s theories of crime causation. 2-TRQ #3.              Identify from Cressey’s research the six situational categories that cause non-shareable problems. 2-TRQ #4.              Discuss the essence of organizational crime. 2-TRQ #5.              Give examples of behavioral indications of fraud. 2-TRQ #6.              .
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Short Answer Essay 6-SAE #1.               What common law protections do individuals have during interviews? 6-SAE #2.               Discuss the considerations that must be given in respect to documentary evidence. Critical Thinking Exercise A scientist has two buckets, one holds four gallons and the other holds five gallons. In addition, the scientist also has.
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True/False 6-T/F #1.                  Fraud may only be prosecuted criminally. 6-T/F #2.                  If the victims or others with a stake in the outcome of a fraud trial are not satisfied with the results of the criminal justice system, they may pursue their claim through the civil justice system. 6-T/F #3.                  In addition to the.
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Multiple Choice 7-M/C #1.               The Statement of Auditing Standards (SAS) No 1 states (select the most correct answer): A.management is responsible for adopting sound accounting policies and for establishing and maintaining internal control consistent with management’s assertions embodied in the financial statements. B.management is responsible for adopting sound accounting policies which will result.
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Short Answer Essay 7-SAE #1.               Define the terms fraud prevention, fraud deterrence, and fraud detection and identify issues of timing. 7-SAE #2.               Provide at least five examples of typical internal control weaknesses. 7-SAE #3.               It is said the nonfinancial numbers are powerful tools for the fraud examiner. Explain why and provide examples of.
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Text Review Questions 2-TRQ #1.              According to this chapter, what employment trends are expected for professionals in the fields of fraud examination and financial forensics? Why? 2-TRQ #2.              What employment opportunities currently exist for fraud examiners and financial forensics specialists? 2-TRQ #3.              What role do fraud examination and financial forensic skills have in.
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Multiple Choice 2-M/C #1.               The USA PATRIOT (Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism)Act is focused on: A.blue-collar crime, money laundering, and terrorist financing. B.white-collar crime, money laundering, and aggressive terrorist acts. C.white-collar crime, money laundering, and terrorist financing. D.white-collar crime, identity theft, and terrorist financing. 2-M/C #2.               The.
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1-SAE #1.               What is tone at the top and why is it an important part of ethical behavior in an organization? 1-SAE #6.What is the five-step approach to fraud prevention, deterrence, and detection? Critical Thinking Exercise Three people check into a hotel. They pay $30 to the manager and go to their room..
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True/False 1-T/F #1.                  Without visually representing the crime scene, very different conclusions are reached about who committed a crime. 1-T/F #2.                  Conspiracy is a means of prosecuting the individuals involved in illegal organized activity. 1-T/F #3.                  Negligence applies when a person acts in a reasonable and prudent manner. 1-T/F #4.                  Cressey called embezzlers “temptation.
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Under RICO, which of the following is an illegal activity: Purchasing a bank to deposit gambling receipts generated from illegal betting parlors Investing in a bank that provides services to foreign nationals Purchasing a bank formerly used to reinitiate money into the financial system from a bankruptcy trustee All of the above Which of the.
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1-SAE #1.               Three ethical principles provide a framework for ethical decision making.  What are they? Briefly summarize their assumptions. 1-SAE #2.               To be successful in any specialized field like forensic accounting or fraud examination, professionals must have characteristics that set them apart as a profession.  What are these five characteristics? 1-SAE.
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1-M/C #1.               Which of the follow is not a reason why small businesses have high losses to fraud? A.Smaller businesses have fewer personnel doing more jobs. B.Small businesses frequently have external fraud detection units. C.Small businesses frequently have higher degrees of trust between personnel. D.All of the above are reasons why small businesses have.
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Short Answer Essay 1-SAE #1.               The definition of ethics has certain key elements.  What are these four key elements? 1-SAE #2.               Can a law permit an action that is prohibited by a profession’s code of ethics?  Discuss and give an example. 1-SAE #3.               .
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Multiple Choice 1-M/C #1.               Based on a number of theories, people obey laws for all of the following reasons except: A.The fear of punishment B.The desire for rewards C.In order to act in a just and moral manner according to society’s standards. D.Due to a duty to act 1-M/C #2.               Portions of the RICO Act outlaw.
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2-M/C #1.               There has been a great deal of concern about the issue of corporate governance and accountability of publicly traded companies because of: A.internal audit failures such as those associated with Enron, Crazy Eddie, and WorldCom. B.board of director involvement in the external audit process. C.financial statement fraud. D.None of the above are.
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1-M/C #1.               Large frauds are typically associated with all of the following except: A.Lack of segregation of duties and responsibilities. B.Placing undeserved trust in key employees. C.Operating on a crisis basis D.Working with management to set realistic goals 1-M/C #2.               Variables from Albrecht’s study of “red flag” variables pertaining to occupational fraud fell into which.
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2-SAE #1.               There are many accreditations mentioned in the chapter. Why are such accreditations considered important? 2-SAE #2.               While there have been numerous failures to detect fraud, abuse, violations of ethics, the perpetrators of the scheme at Crazy Eddie’s have been some of the most forth coming individuals about how it.
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6-M/C #1.               Which of the following is not a major form of negotiated settlements in a civil trial? out-of-court settlements majority jury vote arbitration mediation 6-M/C #2.               The basic accounting flow consists of the following events in what sequence? Post to general ledger Business transactions occur Financial statements are prepared Journal entries are recorded 2, 4, 1, 3 2, 4, 3,.
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2-SAE #1.               One of the primary roles of the board of directors in corporate America is to create a system of checks and balances in an organization through its authority to hire and monitor management and evaluate their plans and decisions and the outcomes of their actions. The audit committee.
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MULTIPLE CHOICE LO #1: Signs than an individual is a predator fraudster include: Repeat offenses Takes advantage of sudden opportunity Frequent job turnover caused by boredom All of the above The difference between a predator fraudster and an accidental one is: The accidental fraudster does not seek opportunity, the predator does The predator fraudster is a repeat offender; the.
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Text Review Questions 2-TRQ #1.              Define fraud and identify a potentially fraudulent situation. 2-TRQ #2.              Differentiate between fraud and abuse. 2-TRQ #3.              Describe the services that a forensic accountant might provide related to a marital dispute. 2-TRQ #4.              Explain the differences between an audit, fraud examination, and forensic accounting engagement. 2-TRQ #5.              Explain the theory.
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7-M/C #1.               SAS No. 99 lists several steps in considering the risk of fraud in a financial statement audit. All of the following are correctly stated except: A.Auditors must brainstorm with the key personnel of both the internal and independent audit teams to plan a strategy to detect fraud. B.Auditors must evaluate.
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1-M/C #1.               While a fraud examiner’s objective is to determine whether fraud has occurred and who is likely responsible, the financial forensics investigator’s objective is to: A.calculate financial impact based on formulaic assumptions. B.determine whether the allegations are reasonable based on the financial evidence and, if so, the financial impact of the.
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2-TRQ #1.              Other than accounting, which disciplines do fraud examination and financial forensics encompass? 2-TRQ #2.              What is the role of research in the fraud examination and financial forensics professions? .
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The main avenues for terrorist financing are: Electorate sponsorship and legal activities Illegal activities and bank ownership State sponsorship and illegal activities Legal activities and bank ownership The Patriot Act: Amends the money laundering statutes Adds cybercrime activities to the list of activities covered under money laundering Prohibits individuals from bringing more than $10,000 into the US Both “a”.
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2-TRQ #1.              Explain the relationship between an employee’s position and the level of theft (according to Hollinger and Clark’s research). 2-TRQ #2.              Analyze the role of corporate governance mechanisms in fraud prevention. 2-TRQ #3.              Describe corporate governance breakdowns in the facilitation of Enron’s fraudulent acts. 2-TRQ #4.              Identify ethical issues, conflicts of interest,.
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Text Review Questions 6-TRQ #1.              What remedies are available through the civil and criminal justice systems? 6-TRQ #2.              Under what circumstances would a Miranda warning be required? 6-TRQ #3.              What constitutes “good cause” in the discharge of an employee? 6-TRQ #4.              What approaches are used by investigators to obtain documents? 6-TRQ #5.              What is.
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7-T/F #1.                  A major difference between auditors and fraud examiners is that most auditors match documents to numbers to see whether support exists and is adequate, whereas fraud examiners determine whether the documents are real or fraudulent.. 7-T/F #2.                  The company should communicate its expectations and commitment to honest and ethical.
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Short Answer Essay 1-SAE #1.               Define “fraud” and define “abuse.” In the process, identify differences between the two. 1-SAE #2.               What is a “fiduciary duty” and give examples. 1-SAE #3.               .
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6-T/F #1.                  Generally, evidence is admissible in court if it is relevant, its probative value outweighs any prejudicial effects, and it is trustworthy. 6-T/F #2.                  In the criminal justice system, individuals can be named as defendants, but businesses and other organizations may not be prosecuted. 6-T/F #3.                  Subsequent to the passage of.
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Multiple Choice 6-M/C #1.               The ________ Amendment prohibits unreasonable searches and seizures. Fifth Fourth Sixth Fourteenth 6-M/C #2.               The ______ Amendment provides that a person cannot be compelled to provide incriminating information against himself or herself in a criminal case. Fifth Fourth Sixth Fourteenth 6-M/C #3.               The ______ Amendment provides that an individual has the right to an attorney to defend.
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True/False 2-T/F #1.                  The Sarbanes-Oxley Act of 2002 (SOX Act) and the Emergency Economic Stabilization Act of 2008 (EESA) both are focused on external controls and auditing practices. 2-T/F #2.                  As a result of events such as the passing of the Sarbanes-Oxley Act of 2002 (SOX Act) and the Emergency Economic Stabilization.
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1-M/C #1.               According to Cressey, a trust violator is best described as A.fictious collateral. B.an embezzler. C.one who is willing to settle for low status. D.a satisfied employee. 1-M/C #2.               Hollinger and Clark found that the same kinds of employees who engage in workplace deviance also engage in employee theft.  According to their research,.
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2-TRQ #1.              List the legal elements of fraud. 2-TRQ #2.              Identify common fraud schemes. ommon fraud schemes include asset misappropriation, corruption, and false statements. 2-TRQ #3.              Give examples of nonfraud forensic and litigation advisory engagements. 2-TRQ #4.              Describe the fraud examiner/forensic accountant’s approach to investigations. 2-TRQ #5.              Explain fraud examination. .
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What is the difference between mail and wire fraud: Mail fraud consists of written material;, wire fraud is electronic and written Mail fraud consists of using the US Postal system; wire fraud consists of the use of non US Postal system services Mail fraud applies whenever the US Postal system is involved ,including.
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1-T/F #1.                  In order to win an award for damages for negligence, the injured party must prove liability and damages. 1-T/F #2.                  The amount of damages proven under negligence may be relatively uncertain. 1-T/F #3.                  The nonshareable problems, Cressey investigated, threatened the status of the subjects, or threatened to prevent them.
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7-M/C #1.               The major approaches to fraud detection are through: Red flags that ultimately point to problems underlying the foundation upon which transactions are recorded. Whistleblowers. Targeted risk assessment. A.I and II. B.II and III. C.I and III. D.I, II, and III. 7-M/C #2.               The first step to detecting fraud is to: A.build an internal control system. B.establish an audit.
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Text Review Questions 7-TRQ #1.              What are the primary responsibilities of management? 7-TRQ #2.              Generally, how is the problem of management override and collusion addressed? 7-TRQ #3.              What is the “expectations gap”? 7-TRQ #4.              What is the role of the external auditor in the financial reporting process? 7-TRQ #5.              How is materiality determined? 7-TRQ #6.              .
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Multiple Choice 1-M/C #1.               Which statement below correctly states the four elements required to prove larceny? A.There must be a taking or carrying away of the money of another without the consent of the owner and with the intent to deprive the owner of its use. B.There was a taking or carrying away,.
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