Fraud Examination
Fraud Examination
5th Edition
ISBN: 9781305079144
Author: W. Steve Albrecht, Chad O. Albrecht, Conan C. Albrecht, Mark F. Zimbelman
Publisher: Cengage Learning
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Chapter 5, Problem 17TF
To determine

The following statement as true or false-Perceived financial pressure is a major reason to commit fraud.

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Cordova Accounting Services had $150,000 in gross receipts for the year. It cost the company $42,000 to lease and operate its offices for the year. The company's landlord gave the company a $150 monthly discount in return for accounting services. One client gave the company a printer with a retail price of $3,500 and a fair market value of $2,800 in exchange for accounting services. Based on these facts, what is the company's gross income for the year?
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