b. Select the three conditions that are generally present when fraud occurs: Note: You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Management or other employees have an incentive are under pressure that provides a reason to commit fraud. Circumstances exist that provide an opportunity for a fraud to be carried out. Those involved are able to rationalize committing a fraudulent act. Some individuals possess an attitude, character, or set of ethical values that allow them to knowingly and intentionally commit a dishonest act. Those involved have less than a high-school education. Those involved have no religious affiliations. Those involved are in their first year at the company.
b. Select the three conditions that are generally present when fraud occurs: Note: You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Management or other employees have an incentive are under pressure that provides a reason to commit fraud. Circumstances exist that provide an opportunity for a fraud to be carried out. Those involved are able to rationalize committing a fraudulent act. Some individuals possess an attitude, character, or set of ethical values that allow them to knowingly and intentionally commit a dishonest act. Those involved have less than a high-school education. Those involved have no religious affiliations. Those involved are in their first year at the company.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![Required information
Chapter 04 Problem 4-31 LO 4-6, 4-9
[The following information applies to the questions displayed below.]
Management fraud (e.g., fraudulent financial reporting) is a relatively rare event. However, when it does occur, the frauds
(e.g., Enron and WorldCom) can have a significant effect on shareholders, employees, and other parties. The PCAOB's AS
2401, Consideration of Fraud in a Financial Statement Audit, provides the relevant guidance for auditors.
Chapter 04 Problem 4-31 Part b LO 4-6, 4-9
b. Select the three conditions that are generally present when fraud occurs:
Note: You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct
answer and double click the box with the question mark to empty the box for a wrong answer.
Management or other employees have an incentive or are under pressure that provides a reason to commit fraud.
Circumstances exist that provide an opportunity for a fraud to be carried out.
Those involved are able to rationalize committing a fraudulent act. Some individuals possess an attitude, character, or set of ethical values
that allow them to knowingly and intentionally commit a dishonest act.
Those involved have less than a high-school education.
Those involved have no religious affiliations.
Those involved are in their first year at the company.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd8b2a8a8-df60-4d22-aaff-7005deaec9c2%2Fbdc5471d-9856-4edf-9770-dc39f10db039%2F3dn0m8_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Required information
Chapter 04 Problem 4-31 LO 4-6, 4-9
[The following information applies to the questions displayed below.]
Management fraud (e.g., fraudulent financial reporting) is a relatively rare event. However, when it does occur, the frauds
(e.g., Enron and WorldCom) can have a significant effect on shareholders, employees, and other parties. The PCAOB's AS
2401, Consideration of Fraud in a Financial Statement Audit, provides the relevant guidance for auditors.
Chapter 04 Problem 4-31 Part b LO 4-6, 4-9
b. Select the three conditions that are generally present when fraud occurs:
Note: You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct
answer and double click the box with the question mark to empty the box for a wrong answer.
Management or other employees have an incentive or are under pressure that provides a reason to commit fraud.
Circumstances exist that provide an opportunity for a fraud to be carried out.
Those involved are able to rationalize committing a fraudulent act. Some individuals possess an attitude, character, or set of ethical values
that allow them to knowingly and intentionally commit a dishonest act.
Those involved have less than a high-school education.
Those involved have no religious affiliations.
Those involved are in their first year at the company.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 4 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education