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Fraud Examination Study Set 3

Business

Quiz 12 :

Revenue- and Inventory-Related Financial Statement Frauds

Quiz 12 :

Revenue- and Inventory-Related Financial Statement Frauds

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Which of the following ratios is relatively more helpful in highlighting revenue-related frauds?
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Multiple Choice
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Answer:

D

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Which of the following is defined as selling unused assets for a promise to buy them or similar assets back at roughly the same price?
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Multiple Choice
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Answer:

D

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Which of the following is a potential revenue-related fraud scheme?
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Multiple Choice
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Answer:

D

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Which of the following involves examining percentage changes in account balances from period to period?
Multiple Choice
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According to the text, why is the accounts receivable turnover ratio widely used in analyzing revenue-related fraud?
Multiple Choice
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Why is it that horizontal analysis is performed only on the income statement and balance sheet, but not on the statement of cash flows?
Multiple Choice
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What is the practice in which cash receipts are misapplied to hide fictitious receivables called?
Multiple Choice
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Which of the following is most likely an indicator of fraud involving inventory overstatement?
Multiple Choice
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Which of the following is a documentary symptom associated with revenue-related fraud?
Multiple Choice
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Which of the following is a common inventory-related fraud scheme?
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Which of the following is most likely an indicator of potential revenue fraud?
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According to a study sponsored by the Committee of Sponsoring Organizations (COSO), the most common way to manipulate revenue accounts is by:
Multiple Choice
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When using ratios to discover financial statement fraud, what is typically the most important aspect to evaluate?
Multiple Choice
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Which of the following is a lifestyle symptom associated with revenue-related fraud?
Multiple Choice
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Which of the following is a typical symptom of a revenue-related fraud?
Multiple Choice
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Which of the following is NOT true regarding "topside" journal entries used to commit financial statement fraud?
Multiple Choice
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Overstating ending inventory has the following effect on cost of goods sold and net income respectively.
Multiple Choice
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What does "Dex shuffling" refer to?
Multiple Choice
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Which of the following is a fraud scheme affecting the inventory?
Multiple Choice
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Which of the following is a valid reason behind the prevalence of revenue-related financial statement fraud?
Multiple Choice
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