8. Per the Fraud Examiners Manual, which of the following is NOT one of the criteria for recording revenue (per ASC 605, Revenue Recognition)?

A. persuasive evidence of an arrangement exists.

B. delivery occurs, or service are rendered.

C. the sellers price to the buyer is fixed or determinable.

D. proceeds from the sale has been collected.

9. Per the Fraud Examiners Manual, what is arguably the strongest deterrent to financial statement fraud?

A. internal controls by itself.

B. the perception of detection.

C. ethics education and training.

D. effective hiring practices.

10. Per the Fraud Examiners Manual, what is channel-stuffing?

A. The premature recognition of revenue by manipulation of the percentage-of-completion and the estimated costs to complete a construction project.

B. The sale of an unusually large quantity of a product to distributors who are encouraged to overbuy through the use of discounts or extended payment terms.

C. Billing for products that are still held in inventory.

D. All of the above are examples of channel-stuffing.