11. Fraudulent financial reporting is a business reality. While it cannot be eliminated, the risk of fraudulent reporting can be decreased. Which of the following considerations is least likely to lessen that risk? An independent audit committee. b An internal audit function. c. Vigilant management. d. An increased focus on tying bonuses to short-term company performance. 12. Application of the full disclosure principle a. b. c. is violated when important financial information is only provided in the notes to the financial statements is theoretically desirable but not practical because the costs of disclosure always exceed the benefits. results in providing information important enough to influence an informed user's judgment and decisions does not use supplementary information to provide analysis on what appears in the financial statements d 13. Revenue is generally recognized when realized or realizable and cared. This statement describes the a conceptual framework revenue recognition principles . matching principle relevance & completeness character