Skimming cash larceny - Study guides, Class notes & Summaries

Forensic Accounting - answer-Use of accounting knowledge or skill for courtroom purposes. Can therefore involve not only fraud, but also bankruptcy, business valuation, disputes, divorce, and other litigation. Fraud Examination - answer-Involves obtaining documentary evidence, interviewing witnesses and potential subjects, writing investigative reports, testifying to findings, and assisting in the general detection and prevention of fraud Fraud (Black's Law Dictionary) - answer-Intentiona...

CFE Exam 349 Questions with Verified Answers Falsified Hours & Salary Schemes - CORRECT ANSWER The most common method of misappropriating funds from the payroll is the overpayment of wages. For hourly employees, the size of a paycheck is based on two factors: the number of hours worked and the rate of pay. Therefore, for hourly employees to fraudulently increase the size of their paycheck, they must either falsify the number of hours they have worked or change their wage rate. Common ways ...

AIS Final Exam Questions and Answers 1. An accounting information system serves many functions - which of the following is NOT one of those functions? (2 Points) a) Capture the details of a transaction b) Implement the start of a transaction c) Provide reports of transactions d) Process the transactions details into appropriate accounts b 2. Output from an accounting information system would NOT include: (2 Points) a) Checks to vendors b) Invoices from vendors c) Customer stateme...

This is Test Bank zip file. PDF file is giving error in upload, thats why zip file is added. Check Sample Preview: CHAPTER 1 Module 1 1. Which of the following is NOT one of the four essential elements of fraud under common law? A. A material false statement B. Reliance on the false statement by the victim C. Knowledge that the statement was false when it was spoken D. Use of email, wire, or telephone with a criminal intent to deceive 2. The “felonious stealing, taking and carrying...

Fraud "Any illegal acts characterized by deceit, concealment, or violation of trust. These acts are not dependent upon the perpetrated by individuals and organizations to obtain money, property, or services; to avoid payment or loss of services; or to secure personal or business ad- vantage." Main types of fraud Internal Fraud and External Fraud Internal Fraud which involves the employees of the company against which the fraud is perpetrated External Fraud deceptive conduct by non-emplo...

Midterm Review for ACCT562 TCO’s A-D and F will be covered in the Midterm. The Midterm will consist of M/C questions, from all the TCO’s covered and Essay Questions, each over broad topics listed below. (TCO A) The Three "E's" of operational auditing – Be ready to discuss and give examples. (TCO B) The Planning Phase and the critical problem areas – Expect thorough discussion of these in relation to administrative and operational controls. (TCO C) The Work Program – how it is develo...

1. Borrowing a company asset for personal use without permission, even if it is returned unharmed, is a form of non-cash asset misappropriation. a. True b. False 2. Which of the following is not a red flag in a fraudulent shipment scheme? a. An increase in bad debt expense b. An unexplained decrease in the scrap account c. Unusually high levels of reorders for inventory items d. Shipments with missing sales documents 3. Manually altering entries in an organization’s books in order ...

Chapter 4 – Billing Schemes 1. Categories of billing schemes include which of the following? a. Shell company schemes b. Larceny billing schemes c. Fictitious disbursements schemes d. All of the above 2. In a scheme, the perpetrator uses false documentation to cause a payment to be issued for a fraudulent purpose. a. Purchasing b. Skimming c. Larceny d. Billing 3. In the Fraud Tree, all of the following are categories of fraudulent disbursements except: a. Payroll schemes...

Chapter 3 Review Questions 3-1 (Learning objective 3-1) What is cash larceny? Answer: Cash larceny involves the intentional taking away of an employer’s cash without the consent, and against the will, of the employer. Cash larceny schemes involve the theft of money that has already appeared on the victim company’s books. 3-2 (Learning objective 3-2) How do cash larceny schemes differ from fraudulent disbursements? Answer: Cash larceny schemes generally target receipts, not disbursemen...

uestion (TCO C) The work program is the key to: Question (TCO C) Management, process owners, and key users of the process should all be ____________ in the work program. Question (TCO F) What is the primary difference between cash larceny and skimming? Question (TCO F) Which of the following is a method for concealing larceny of receivables? Question (TCO F) All of the following are ways a fraudster might conceal cash larceny from the deposit except: Question (TCO F) Jeff Lewis is an accoun...