Define fraud with an example.

Question

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Answer 1

Question

Chapter 7, Problem 1Q

To determine

Define fraud with an example.

Expert Solution & Answer

Explanation of Solution

Fraud: Fraud is a deliberate and deceptive action of an employee to obtain unlawful gain from the employer.

Definition: Fraud can be defined as a deliberate and deceptive action of an employee to obtain unlawful gain from the employer.

Example: A bank employee could transfer the money from any customer deposit account to his personal accounts through computer. This kind of internal embezzlement committed by bank employee, against his employer is referred to as employee fraud.

Conclusion

Thus, fraud is defined as an unlawful action intended by employee to obtain personal benefit by deceiving the employer.

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Accounting

Brun Company produces its product through two processing departments: Mixing and Baking. Information for the Mixing department follows. Direct Materials Conversion Unit Percent Complete Percent Complete Beginning work in process inventory 7.500 Units started this period 104,500 Units completed and transferred out 100.000 Ending work in process inventory 12.000 100% 25% Beginning work in process inventory Direct materials Conversion $6.800 14.500 $21.300 Costs added this period Drect materials 116,400 Conversion Total costs to account for 1.067,000 1.183.400 $1.204.700 Required 1. Prepare the Mixing department's production cost report for November using the weighted average method Check (1) C$1.000 2. Prepare the November 30 journal entry to transfer the cost of completed units from Mixing to Baking

Answer 2

Question

Chapter 7, Problem 1Q

To determine

Define fraud with an example.

Expert Solution & Answer

Explanation of Solution

Fraud: Fraud is a deliberate and deceptive action of an employee to obtain unlawful gain from the employer.

Definition: Fraud can be defined as a deliberate and deceptive action of an employee to obtain unlawful gain from the employer.

Example: A bank employee could transfer the money from any customer deposit account to his personal accounts through computer. This kind of internal embezzlement committed by bank employee, against his employer is referred to as employee fraud.

Conclusion

Thus, fraud is defined as an unlawful action intended by employee to obtain personal benefit by deceiving the employer.

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Answer 3

Question

Chapter 7, Problem 1Q

To determine

Define fraud with an example.

Expert Solution & Answer

Explanation of Solution

Fraud: Fraud is a deliberate and deceptive action of an employee to obtain unlawful gain from the employer.

Definition: Fraud can be defined as a deliberate and deceptive action of an employee to obtain unlawful gain from the employer.

Example: A bank employee could transfer the money from any customer deposit account to his personal accounts through computer. This kind of internal embezzlement committed by bank employee, against his employer is referred to as employee fraud.

Conclusion

Thus, fraud is defined as an unlawful action intended by employee to obtain personal benefit by deceiving the employer.

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Answer 4

Question

Chapter 7, Problem 1Q

To determine

Define fraud with an example.

Expert Solution & Answer

Explanation of Solution

Fraud: Fraud is a deliberate and deceptive action of an employee to obtain unlawful gain from the employer.

Definition: Fraud can be defined as a deliberate and deceptive action of an employee to obtain unlawful gain from the employer.

Example: A bank employee could transfer the money from any customer deposit account to his personal accounts through computer. This kind of internal embezzlement committed by bank employee, against his employer is referred to as employee fraud.

Conclusion

Thus, fraud is defined as an unlawful action intended by employee to obtain personal benefit by deceiving the employer.

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Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Chapter 7, Problem 1Q

To determine

Define fraud with an example.

Expert Solution & Answer

Explanation of Solution

Fraud: Fraud is a deliberate and deceptive action of an employee to obtain unlawful gain from the employer.

Definition: Fraud can be defined as a deliberate and deceptive action of an employee to obtain unlawful gain from the employer.

Example: A bank employee could transfer the money from any customer deposit account to his personal accounts through computer. This kind of internal embezzlement committed by bank employee, against his employer is referred to as employee fraud.

Conclusion

Thus, fraud is defined as an unlawful action intended by employee to obtain personal benefit by deceiving the employer.

Answer 6

Chapter 7, Problem 1Q

To determine

Define fraud with an example.

Expert Solution & Answer

Explanation of Solution

Fraud: Fraud is a deliberate and deceptive action of an employee to obtain unlawful gain from the employer.

Definition: Fraud can be defined as a deliberate and deceptive action of an employee to obtain unlawful gain from the employer.

Example: A bank employee could transfer the money from any customer deposit account to his personal accounts through computer. This kind of internal embezzlement committed by bank employee, against his employer is referred to as employee fraud.

Conclusion

Thus, fraud is defined as an unlawful action intended by employee to obtain personal benefit by deceiving the employer.

Answer 7

Chapter 7, Problem 1Q

To determine

Define fraud with an example.

Answer 8

Expert Solution & Answer

Explanation of Solution

Fraud: Fraud is a deliberate and deceptive action of an employee to obtain unlawful gain from the employer.

Definition: Fraud can be defined as a deliberate and deceptive action of an employee to obtain unlawful gain from the employer.

Example: A bank employee could transfer the money from any customer deposit account to his personal accounts through computer. This kind of internal embezzlement committed by bank employee, against his employer is referred to as employee fraud.