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ACCT 562 WEEK 3 QUIZ ANSWERS.
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ACCT 562 WEEK 3 QUIZ ANSWERS.
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ACCT 562 WEEK 3 QUIZ ANSWERSWeek3 quiz
1. Question : (TCO C) The work program is the key to:
Student Answer:
a satisfied client
clearly identified risks
a successful review
planning handoffs
Instructor Reider, Chapter 3, page 103
Explanation:
Points Received: 3 of 3
Comments:
Question 2. Question : (TCO C) Management, process owners, and key users of the
process should all be ____________ in the work program.
Student Answer:
identified
interviewed
observed
weighted by risk factors
Instructor Reider, Chapter 3, page 104
Explanation:
Points Received: 0 of 3
Comments:
Question 3. Question : (TCO F) What is the primary difference between cash larceny and
skimming?
Student Answer:
Cash larceny is an on-book scheme; skimming is an off-book
scheme.
Cash larceny is an off-book scheme; skimming is an on-book
scheme.
, ACCT 562 WEEK 3 QUIZ ANSWERS
Cash larceny is a disbursement scheme; skimming is a cash
receipt scheme.
Cash larceny only involves cash; skimming can involve
either cash or checks.
Instructor Wells, Chapter 3, page 75
Explanation:
Points Received: 3 of 3
Comments:
Question 4. Question : (TCO F) Which of the following is a method for concealing larceny
of receivables?
Student Answer:
Lapping
Death by a thousand cuts
Skimming
None of the above
Instructor Wells, Chapter 3, page 80
Explanation:
Points Received: 3 of 3
Comments:
Question 5. Question : (TCO F) All of the following are ways a fraudster might conceal
cash larceny from the deposit except:
Student Answer:
posting missing money as “deposits in transit”
deposit lapping
falsifying the bank copy of the deposit slip
destroying customer statements
Instructor Wells, Chapter 3, page 82
Explanation:
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