to detect fraud? Generally speaking, which of the following is most likely a. Internal audits. b. External audits. c. Hotlines. d. None of the above. 2. Which would be an example of the bil-and-hold strategy? a Books are kept open beyond the appropriate time. b. Sell products and hold fhem, with an agremsnt to bill customers hater. c. Combine restrioted fund account with the general fund account. d. Inflate revenues with phony software sales e. Nono of the above. Embezziement refers to the willful taking for one's own use, another's money or property of which the wrongdoer acquired possession lawfuily, by reason of some employment or posltion of trust over b. an unauthorized assumption and exercise of the right of ownership goods or personal chattels belonging to another to the exclusion of the owner's rights c. a felontous steaing, taking and carrying, l, riding, or driving anothers personal property with the intent to deprive the owner thereof d. purposefully obtaining the property of another by deception A person deceives if he or she purposely a. creates or reinforces a false impression, lnciuding false impressions as to law, value, intention, or other state of mind b.ooes not preventaroter rom. acuiring irmormation which would offset his judgment of a transaction c. fails to correct a false impression which the deceiver previously created or reinforced d. a and b e. a and c While quantifying.the financial damage from fraud is hard, it can be even more dlfficuit to estimate the collateral damage such as - a. damage to company brand or reputatiorn b. a decline in staff morale c. a loss of year-end bonuses for rank-and-fle employees d. a and b e. none of the above