The following are activities that occurred at Benjamin Manufacturing;

a)Cash discounts from a major supplier are never taken despite always paying in the discount period. In return the accountant enjoys free use of the vendors ski lodge at Mt. Fuller.

b)The accountant recorded some cash transactions from the next period in the current period to avoid triggering a debt covenant

c)The factory supervisor takes left over scrap metal home for resale and earn a few dollars

d)A contingent liability was not mentioned in the notes to the accounts because the case was still outstanding

Required:

For each of the activities identify which are fraud and state whether it was misappropriation of assets or fraudulent financial reporting.