Common accounting anomaly fraud symptom involve problems with various data and books of accounts.Which of the following is NOT one among them?
A)Faulty journal entries
B)Inaccuracies in source documents
C)Rounding adjustments
D)Inaccuracies in ledgers

Question

Quizplus · Accepted Answer

Rounding adjustments are not necessarily an accounting anomaly or a symptom of fraud. They can be a legitimate accounting practice used to simplify financial records and calculations. However, if rounding adjustments are used excessively or in a fraudulent manner, then they could become a problem. Therefore, they are not always an indication of fraud.

Common Accounting Anomaly Fraud Symptom Involve Problems with Various Data