Misappropriation of assets fraud involves intentionally misstating items or omitting important
facts from the financial statements.

Question

Quizplus · Accepted Answer

Misappropriation of assets fraud involves the theft or misuse of an organization's assets, not the intentional misstatement or omission of facts from financial statements, which is more accurately described as fraudulent financial reporting.

Misappropriation of Assets Fraud Involves Intentionally Misstating Items or Omitting