which of the following regarding errors is not correct Select one: a. unintentional misstatement of the financial statements, b. mistake in recording the date of a sale invoice is error c. it is easier for the auditor to detect because it is not intentional d. Fraudulent Financial Reporting is kind of error

which of the following regarding errors is not correct Select one: a. unintentional misstatement of the financial statements, b. mistake in recording the date of a sale invoice is error c. it is easier for the auditor to detect because it is not intentional d. Fraudulent Financial Reporting is kind of error

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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3. Fraud is an _____________ misstatement of which any amount found during the audit will be considered material. Question 3 options: a) Unintentional b) Planned c) Proposed d) Intentional
Fraud consists of some deceitful practice or willful device, resorted to with intent to deprive another of his right. Fraud is generally categorized as follows: Financial Statement Fraud a) May include employee theft – typically cash, physical assets (computers), or intellectual property. b) May encompass a variety of wrongful acts, such as, among others, bribes or kickbacks. c) Deliberate misrepresentation of the financial statements.
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