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FORENSIC & INVESTIGATING ACCOUNTING 409 EXAM 2 QUESTIONS WITH CORRECT ANSWERS
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Which technique is considered to be an "off-book" fraud? a. Skimming. b. Unrecorded sales. c. Understated sales. d. Theft of incoming checks. e. All of the above. CORRECT ANSWER E Building up balances in bank accounts based upon floating checks drawn against similar accounts in other banks is best called: a. Skimming. b. Kiting. c. Money laundering. d. Lapping. e. None of the above CORRECT ANSWER B What is a red flag of kiting? a. Frequent deposits and checks in the same amount. b. Large deposits on Fridays. c. Short time lag between deposits and withdrawals. d. Only a and c. e. Items a, b, and c. CORRECT ANSWER E
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