Which of the following statements is FALSE?
A) Liability understatements are easier to detect than other types of financial statement fraud.
B) Analytical symptoms related to accounts payable understatements usually relate to reported balances that appear too low.
C) A seasoned fraud examiner will look for unusual liability account changes to detect fraud.
D) Companies in trouble have a strong motivation to understate liabilities.

Question

Quizplus · Accepted Answer

Liability understatements are not necessarily easier to detect than other types of financial statement fraud. All types of financial statement fraud require careful examination and analysis to uncover.

Which of the Following Statements Is FALSE