Select the correct answer(s) for the following multiple-choice questions. Note that there may be more than one correct answer. Which of the following statements is (are) true? a. To prevent detection when an asset is stolen, the perpetrator must inflate liabilities or decrease assets. b. Committing a fraud almost always takes more effort and time than concealing it. c. Perpetrators can hide an asset theft by charging the stolen item to an expense account. d. A lapping scheme is used to commit fraud but not to conceal it. e. An individual can hide the theft of cash using a check-kiting scheme.
Select the correct answer(s) for the following multiple-choice questions. Note that there may be more than one correct answer. Which of the following statements is (are) true? a. To prevent detection when an asset is stolen, the perpetrator must inflate liabilities or decrease assets. b. Committing a fraud almost always takes more effort and time than concealing it. c. Perpetrators can hide an asset theft by charging the stolen item to an expense account. d. A lapping scheme is used to commit fraud but not to conceal it. e. An individual can hide the theft of cash using a check-kiting scheme.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Select the correct answer(s) for the following multiple-choice questions. Note that there may be more than one correct answer.
Which of the following statements is (are) true?
a. To prevent detection when an asset is stolen, the perpetrator must inflate liabilities or decrease assets.
b. Committing a fraud almost always takes more effort and time than concealing it.
c. Perpetrators can hide an asset theft by charging the stolen item to an expense account.
d. A lapping scheme is used to commit fraud but not to conceal it.
e. An individual can hide the theft of cash using a check-kiting scheme.
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