QUESTION 27

A primary purpose of _________________ is to prevent any one person from having too much control over a particular business function.

	a.	Separating duties
	b.	Conducting criminal history checks of employees
	c.	Oversight and supervision
	d.	Antifraud training

2 points

QUESTION 28

According to the Finanacial Shenagnigans book, which of the following is NOT a factor that may indicate fraud at a company?

	a.	The company's auditors charge less than other audit firms for the same services
	b.	A lack of checks and balances amongst the management team
	c.	The auditors lack objectivity and the appearance of indpendence
	d.	Board of Director members that receive loans from the company

2 points

QUESTION 29

If a company wants to overstate net income by manipulating inventyory it could do so by:

	a.	overstating the ending inventory amount
	b.	understating the ending inventory amount
	c.	overstating beginning inventory
	d.	overstate purchases made during the year

2 points

QUESTION 30

To try and determine if a company is properly accounting for obsolete inventory the fortensic accountant should monitor the company's:

	a.	days sales outstanding
	b.	days sales inventory
	c.	purchases
	d.	cost of goods sold

2 points

QUESTION 31

In years of good proftis companies may postpone the recognition of some revenue to which they are entitled in order to "save' that revenue and recognize it in a future period when it may be having a bad year.

True

False

QUESTION 37

Which of the following functions in Excel allows you the user to find and link data in one spreadsheet from another?

	a.	VLOOKUP
	b.	Filter
	c.	Sorting
	d.	the MAX function

2 points

QUESTION 38

Fictitious sales schemes can never involve legitimate customers.

True

False

QUESTION 26

In a company's financial statements, the sale of a business operation must be included in____ and the sale of the company's core products should be included in____.

	a.	net income, operating income
	b.	operating income, net income
	c.	operating income, operating income
	d.	net income, net income