Question

PROF. K. JEFFERS ASA COLLEGE ACC 160 11. Unconcealed larceny includes: a stealing with no attempt to cover up the theft b. falsified receiving reports that cover up a theft by recording a shortage or "defective goods" C altering inventory records to match the balance in the inventory account d all of the above 12. The greatest danger a company faces in the theft of inventory is: a lack of written procedures on exactly how inventory is to be recorded b having no centralized department for receiving and storing merchandise e both a and b d. neither a norb 13. The most common type of noncash theft is: Unconcealed larceny b. Falsified receiving and shipping reports c. Fraudulent shipments d. Fraudulent write-offs 14. Sales orders are written by sales people who have no access to the goods, which are released by warehouse personnel. This is example of a an analytical review b establishing a system for storing and counting inventory c. proper documentation that is monitored properly d segregation of duties 15. Which of the following may involve altering physical inventory counts to cover a theft? a. a fraudulent write-off b. a fraudulent shipments c a falsified shipping/receiving report d unconcealed larceny 16. Before hiring someone for a position involving access to cash, checks or inventory, a company should check the applicant's: a past employment b. references c. criminal convictions d. all of the above 17. Before seeking information about a job candidate, a company should consult a labor lawyer about a. obtaining the applicant's authorization to seek background information b. the wording of the permission to seek background information Page 3 of 13

Answer 1

11 - (a) stealing with no attempt to cover the theft

12-(c) both a & b

13-(d) Fraudulent write-offs

14-(d) segregation of duties

15 -(a) a fraudulent writeoff

16-(d) all of the above

For question, no 17 only two options are given in the image hence unable to give its answer .