Which action was a key element in the WorldCom audit fraud case?
A) Recording bartered exchange transactions as revenue.
B) Overstating cash by falsely recording cash held at major banks.
C) Recognizing revenue on the sale of impaired assets.
D) Concealing large losses related to securities investments.

Question

Quizplus · Accepted Answer

WorldCom fraudulently recorded bartered exchange transactions as revenue, which was a significant part of their accounting scandal.

Which Action Was a Key Element in the WorldCom Audit