Fictitious accounting entries are recorded that cause revenue to be overstated by $5 millionfor the year; the accounting manager was trying to make the company’s income look betteron the company’s upcoming loan application. This type of fraud is:a. asset misappropriation.b. fraudulent financial reporting.c. GAAP disordering.d. IFRS misalignment.
Fictitious accounting entries are recorded that cause revenue to be overstated by $5 millionfor the year; the accounting manager was trying to make the company’s income look betteron the company’s upcoming loan application. This type of fraud is:a. asset misappropriation.b. fraudulent financial reporting.c. GAAP disordering.d. IFRS misalignment.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Fictitious accounting entries are recorded that cause revenue to be overstated by $5 million
for the year; the
on the company’s upcoming loan application. This type of fraud is:
a. asset misappropriation.
b. fraudulent financial reporting.
c. GAAP disordering.
d. IFRS misalignment.
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