A grand jury indicted the treasurer of National Bridge Taxi Company for stealing cash from the company.

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A grand jury indicted the treasurer of National Bridge Taxi Company for stealing cash from the company. Over a 10 -year period the treasurer allegedly took almost \(\$ 50,000\) and attempted to cover the theft by manipulating the bank reconciliation.

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What is the most likely way that a person would manipulate a bank reconciliation to cover a theft? Be specific. What internal control arrangement could have avoided this theft?

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Financial Accounting

ISBN: 9780133118209

2nd Edition

Authors: Charles T. Horngren, Jr. Harrison, Walter T.

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