Fraud can result in two types of misstatements − (i) misstatement arising from fraudulent financial reporting AND (ii) misstatement arising from misappropriation of assets. To indicate: The accounting and/or auditing issues that should be of concern to the auditor and an action that might be taken by the auditor.

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Answer 1

Question

Chapter 9, Problem 76FF

To determine

Concept introduction: Fraud can result in two types of misstatements − (i) misstatement arising from fraudulent financial reporting AND (ii) misstatement arising from misappropriation of assets.

To indicate: The accounting and/or auditing issues that should be of concern to the auditor and an action that might be taken by the auditor.

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Answer 2

Question

Chapter 9, Problem 76FF

To determine

Concept introduction: Fraud can result in two types of misstatements − (i) misstatement arising from fraudulent financial reporting AND (ii) misstatement arising from misappropriation of assets.

To indicate: The accounting and/or auditing issues that should be of concern to the auditor and an action that might be taken by the auditor.

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Answer 3

Question

Chapter 9, Problem 76FF

To determine

Concept introduction: Fraud can result in two types of misstatements − (i) misstatement arising from fraudulent financial reporting AND (ii) misstatement arising from misappropriation of assets.

To indicate: The accounting and/or auditing issues that should be of concern to the auditor and an action that might be taken by the auditor.

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Answer 4

Question

Chapter 9, Problem 76FF

To determine

Concept introduction: Fraud can result in two types of misstatements − (i) misstatement arising from fraudulent financial reporting AND (ii) misstatement arising from misappropriation of assets.

To indicate: The accounting and/or auditing issues that should be of concern to the auditor and an action that might be taken by the auditor.

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Answer 5

Chapter 9, Problem 76FF

To determine

Concept introduction: Fraud can result in two types of misstatements − (i) misstatement arising from fraudulent financial reporting AND (ii) misstatement arising from misappropriation of assets.

To indicate: The accounting and/or auditing issues that should be of concern to the auditor and an action that might be taken by the auditor.

Answer 6

Chapter 9, Problem 76FF

To determine

Concept introduction: Fraud can result in two types of misstatements − (i) misstatement arising from fraudulent financial reporting AND (ii) misstatement arising from misappropriation of assets.

To indicate: The accounting and/or auditing issues that should be of concern to the auditor and an action that might be taken by the auditor.

Answer 7

Chapter 9, Problem 76FF

To determine

Concept introduction: Fraud can result in two types of misstatements − (i) misstatement arising from fraudulent financial reporting AND (ii) misstatement arising from misappropriation of assets.

To indicate: The accounting and/or auditing issues that should be of concern to the auditor and an action that might be taken by the auditor.

Answer 8

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Answer 9

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Answer 10

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Answer 11

Ch. 9 - Prob. 1TFQ Ch. 9 - Prob. 2TFQ Ch. 9 - Prob. 3TFQ Ch. 9 - Prob. 4TFQ Ch. 9 - Prob. 5TFQ Ch. 9 - Prob. 6TFQ Ch. 9 - Prob. 7TFQ Ch. 9 - Prob. 8TFQ Ch. 9 - Prob. 9TFQ Ch. 9 - Prob. 10TFQ

Solution Summary: The author explains that fraud can result in two types of misstatements, namely, fraudulent financial reporting and misappropriation of assets.

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Chapter 9 Solutions