1. which of these methods of perpetrating financial statement fraud is usually the first one tried by fraudsters? a. pl...
Homework Answers
Answer 1 - which of these methods of perpetrating financial statement fraud is usually the first one tried by fraudsters?
Option A is correct i.e Playing the accounting system as fraudsters can manipulate the accounting system for their benefits.
Answer 2 - A financial statement fraudster may make many small adjustments rather than one large adjustment. Which financial statement concept makes this practice harder to find?
Option A is correct i.e Going concern as in this concept the entity is assumed to have a long life and therefore the practices are carried on like this forever.
Answer 3 - A financial statement fraudster may change accounting methods, for example from LIFO to FIFO in order to mask a change in earnings or do enhance a change in earnings. This abuse violates which accounting principle?
Option C is correct i.econsistency & comparability
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1. which of these methods of perpetrating financial statement fraud is usually the first one tried by fraudsters? a. pl...
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s/atofi/Documents/Chapt%202%20intermed%20f%20Oscan_0200921015150 pdf efault browser? Set as default + F A Read aloud Y Draw A) It...
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s/atofi/Documents/Chapt%202%20intermed%20f%20Oscan_0200921015150 pdf efault browser? Set as default + F A Read aloud Y Draw A) It should be a basis for standard-setting. B) It should allow practical problems to be solved more quickly by reference to it. C) It should be based on fundamental truths that are derived from the laws of nature. D) All of these answer choices are true 4. What is a purpose of having a conceptual framework? A) To make sure that economie activity can be...
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