Which of the following actions is not a potential fraud scheme related to long-lived assets?
A)Impairment losses on long-lived assets are not recognized.
B)Costs that should have been expenses are improperly capitalized.
C)Amortization of intangible assets is miscalculated.
D)All the above are potential fraud schemes.

Question

Quizplus · Accepted Answer

All of the listed actions are potential fraud schemes related to long-lived assets. Impairment losses on long-lived assets should be recognized, costs that should have been expenses should not be capitalized, and accurate amortization of intangible assets is important for proper financial reporting. Any manipulation or misrepresentation of these items can lead to fraudulent reporting.

Which of the Following Actions Is Not a Potential Fraud