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NEW QUESTION 44
Forced reconciliation of the account says:

  • A. to conceal shrinkage is to alter inventory record so that it matches the physical inventory count.
  • B. to conceal write-offs is to change the perpetual inventory record so that it matches the physical inventory count.
  • C. to conceal inventory is to alter shrinkage record so that it matches the physical inventory count.
  • D. to conceal shrinkage is to change the perpetual inventory record so that it matches the physical inventory count.

Answer: D

 

NEW QUESTION 45
What can make it easy for an employee to skim sales or receivables?

  • A. Revenue sources and recording procedures
  • B. Poor collection and recording procedures
  • C. Internal audits and recording procedures
  • D. Register manipulations and recording procedures

Answer: B

 

NEW QUESTION 46
Blue borrowed her employer's snowplow for her own snow removal business, which she operates on the side.
Blue only used the snowplow on the weekends or after hours, when her employer was not open for business.
Blue falsified the mileage and usage logs for the snowplow so that no one would know she had been using it.
The snowplow was returned unharmed. Which of the following statements is MOST ACCURATE?

  • A. Blue committed misuse of a noncash asset.
  • B. Blue committed larceny of a noncash asset.
  • C. Blue did not commit occupational fraud.
  • D. Blue committed a fictitious sales scheme.

Answer: A

 

NEW QUESTION 47
......

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