Question

1.)

non cash misappropriations of assets may be prevented or detected by:

- segregation of duties

- matching invoices to receiving reports before payemnts are issued

- matching packing slips to approved sales orders

- matching every outgoing shipment to the sales order before the merchandise is shipped

- examining significant increases in bad debt expense

- all of the above

2.)

which of the following is false

- weak internal controls breed fraud

- red flags will always indicate fraud

- fraud investigators and auditors should practice professional skepticsm

- at first the perpetrator will lie to you

- regular everyday people commit fraud

Answer 1

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