AUDITING-TEXT (LOOSELEAF)
AUDITING-TEXT (LOOSELEAF)
11th Edition
ISBN: 9781337619462
Author: JOHNSTONE
Publisher: CENGAGE L
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Chapter 2, Problem 11RQSC
To determine

Introduction: Misappropriation of assets refers to stealing or using company’s assets for personal purposes; whereas, fraudulent financial reporting refers to manipulating financial statements to represent a better picture of the financial position of the company.

To categorize: The frauds of companies into asset misappropriation or fraudulent financial reporting.

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