Fraud Comprehensive Test Paper Questions And Solutions Graded Aplus

FRAUD COMPREHENSIVE TEST PAPER
QUESTIONS AND SOLUTIONS GRADED
APLUS

●● Employee frauds constitute a greater percentage of all frauds and
have greater median losses than do management and owner frauds
combined.
Answer: False


●● Statistics show that fraud losses are directly proportional to age and
inversely proportional to education
Answer: False


●● Larceny, skimming, and misuse are all subdivisions of theft of cash
Answer: True


●● Skimming schemes are far less common than larceny schemes
Answer: False


●● Billing schemes have by far the highest median costs per incident of
all frauds
Answer: False

, ●● Kickback schemes always involve the purchasing function of the
victim company
Answer: False


●● Bribery is one of the four types of corruption
Answer: True


●● Commercial bribery is different from traditional bribery in that the
offer made in commercial bribery is to influence an official act of
government and traditional briberies never involve government officials.
Answer: False


●● Failure to account for missing inventory that was supposed to have
been returned is a problem found in voided sales frauds
Answer: True


●● Asset misappropriations are divided into two categories: theft of cash
and theft of inventory
Answer: True


●● Larceny is the stealing of cash by employees before the cash has
been recorded in the company's accounting system
Answer: False