Which of the following statements regarding fraud is INCORRECT?
A) Fraud violates the rights of many for the temporary betterment of a few and for the ultimate betterment of no one.
B) Motive,opportunity,and rationalization are elements that make up virtually every fraud.
C) The perpetrators of fraud usually do so for their own short-term economic gain.
D) Misappropriation of assets is a type of fraud that is committed by company managers who make false and misleading entries in the books in order to improve a company's financial results.
Correct Answer:
Verified
Q22: Collusion is the method used to defeat
Q23: Enron Corporation committed fraudulent financial reporting by:
A)reporting
Q24: Internal control is a plan of organization
Q25: Which is NOT an objective of an
Q26: What is the purpose of fraudulent financial
Q28: Background checks should be conducted only for
Q29: Small companies cannot have internal controls since
Q30: Access to sensitive data files in a
Q31: Smart hiring practices and separation of duties
Q32: In order to maximize profits,a proper system
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